00:00Ed, talk us through what we know so far. Why is a former Fed chair joining Anthropic?
00:06Because in the first instance, Anthropic and its co-founders are very conscious of the potential
00:12economic impact that AI will have. They could not be more clear about that in the statement.
00:17The way that this runs as a public benefit corp is instead of handing all over power to shareholders,
00:25even of a private company, the long-term benefit trust essentially gets to have board oversight.
00:31It can appoint directors. It can control the mechanics of that board composition and with
00:35time has a power to add more, which Anthropic says it will do. And so reflecting not just
00:41on Bernanke's position as a former chair of the Federal Reserve, but also his work in academia,
00:47looking at the economic history of the Great Depression and disruptive cycles in the history
00:54of the U.S. economy, they're basically saying this is the perfect person to join this long-term
01:00benefit trust and help shape the oversight. Because the way that Anthropic is structured
01:06is you can have a dual purpose. Yes, AI for profit, but also to serve the long-term contribution
01:12and value of humanity. And that's sort of Anthropic's guiding principle.
01:16Well, you're touching on what I was wondering. That is, what does Ben Bernanke,
01:20with that impressive resume that he has, bring to Anthropic? Tell us a little bit more about
01:26this role, you know, what his responsibilities will be, what he actually has the ability to do.
01:32Well, more specifically than just saying the economy, one thing that Anthropic cites is
01:35workforce, so labor economics. You know, that is something that we've written endlessly about,
01:40particularly in the realm of physical AI, right, where the humanoid robotics come into industrial
01:44sectors, agriculture, et cetera. And the word that Anthropic leans on, in Bernanke's case,
01:50is judgment. You know, the board has others on it, Neil Buddy-Shah, Richard Fontaine, Mariano Florentino,
01:56and they will add more in time. But it is very much focused on this idea that AI is going
02:03to change,
02:04not just output from an economic perspective, but how the economy works. And I would put a lot of
02:11emphasis on the labor force as a part of that.
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