Dear Fellow Scholars, this is Two Minute Papers with Dr. Károly Zsolnai-Fehér. ChatGPT has just been supercharged with browsing support, I tried it myself too, and I think this changes everything. Well, almost everything, as you will see in a moment. And this is going to be an incredible journey, so hold on to your papers Fellow Scholars. You see, normally, ChatGPT with GPT-3. 5 has read a great deal of the huge body of text in the internet, and therefore it knows a lot. It can help us with so much. But there is a problem. What it the problem? Well, it can help us so much, if whatever we are looking for happened before September 2021. Anything after that is a no-go. Until today, because now we have live browsing support. Let’s see together what this is good for! Now, perhaps the world’s best two investment experts, Warren Buffett and Charlie Munger just held their annual meeting where they discuss investing, the economy and more. As always, it is a treasure trove of information, however, look. It is more than 7 hours long. So, it is time! It is time for what exactly? Well, for asking the new ChatGPT to summarize it for us and see if it is worth the time investment! First, it starts browsing browsing, and then. Ouch. Unfortunately, it cannot watch videos, which is understandable. Second try, oh my goodness. It is hallucinating. Calm down, little AI, this is not a video of a startup called Mindgrasp AI. It’s all right. Now I am wondering, does this startup exist or did it make it up? It can tell us what it is, and I checked, it indeed exists. Third try, sigh. It also fails. But wait a minute! This time it fails a little differently. Look! A ray of hope! It can look up transcripts instead and summarize those. Yes please! And, let’s see…great! They talked a lot about human nature, that is my favorite, so I’ll definitely watch this. We could probably even ask for the appropriate time stamps if something specific caught our eye. So, you see, it works, but sometimes it is a bit eccentric. Yes, we have an eccentric, genius AI at our disposal. What a time to be alive! But wait, if it can browse, it can also help us with other things. For instance, it can visit our coding projects, have a look at our work, and even suggest improvements. You see a ton of new code here, but it is a bit unclear what it has changed and what it is trying to do. No matter, look! It summarizes the nature of the changes and also tells us why it has done what it has done. That is absolutely amazing. And if the database cutoff is not in September 2021 anymore, we can ask about things that take place today. So, market research time! How did the US interest rates change in the last 3 months? That is a great and concise summary, with citations. Loving it. Now, tell me the story of interest rates in the last 10 years. We get a lot of data, I like it, and even better, lots of additional blinking cursors for free. Now let’s do some actual market research and ask what the economy looked like last time the US had interest rates like this. And then, our whimsical genius is at it again. I tried again, and then it says that interest rates looked like this last time around 2006 and 2007. And it ran out of time before it could make a table with the appropriate data, but it kindly asks if it can try again. Of course, and, good job little AI! Bravo! We now have some numbers to compare these two situations. Now, I hope it goes without saying, please do not invest on this data, I just ran this toy experiment to see a little clearer what is going on and where we are in the debt cycle. So that was market research, and now, it is time for research research. Namely,