Intuit's $100m/yr OpenAI Deal & How Tech Companies Juice Profits

About this episode

Blake breaks down how AI can help with cost segregation and explains why AI currently works best on tasks that take humans 2-5 minutes. Michael Burry is betting against AI companies, claiming they're manipulating earnings by stretching server depreciation from 3-4 years to 5-6 years, adding billions to their bottom lines. Also covered: Intuit's $100 million annual OpenAI deal to integrate QuickBooks and TurboTax into ChatGPT, new bank evidence in the Rippling corporate espionage case, and a survey showing 10% of adults are acting on AI tax advice despite error rates up to 50%.

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• (00:00) - Welcome to The Accounting Podcast
• (00:49) - Blake's Illness and Recovery
• (02:05) - Upcoming Topics
• (04:06) - Cost Segregation Explained
• (06:46) - AI in Cost Segregation
• (11:15) - AI's Current Capabilities and Limitations
• (19:10) - Intuit's OpenAI Deal
• (22:01) - Intuit's Strategy and Industry Implications
• (30:12) - Michael Burry's New Bet Against AI
• (31:21) - Depreciation and AI Companies
• (39:15) - Rippling vs. Deel: Corporate Espionage
• (42:44) - New Jersey's Alternative Pathways Bill
• (44:39) - AI's Role in Tax and Investing Advice
• (47:37) - Defining Audit Quality: PCOB's New Initiative
• (51:56) - FASB's Costly Lease Standard
• (56:13) - Ancient Accounting Systems in Peru
• (58:45) - Conclusion and Viewer Interaction

Show Notes

Coming soon!

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page