The Singularity: AI, Acceleration and a New World by 2029 with Matt McDonough

The AI revolution is here—and it’s moving faster than anyone expected. In this episode of The Rice Report, Eric Rice talks with Wall Street defector Matt McDonough about what’s really coming: mass job automation, the failure of fiat money, and why decentralized, open-source AI is critical and the only path forward.

Learn about:

How AI is replacing entire industries—and why that’s actually a good thing

Why decentralization is the only way to stop AI from becoming Skynet

The truth about fiat currency and how Bitcoin offers a real alternative

Why jobs aren’t being eliminated—they’re being upgraded

How AI can restore family life, time, and productivity if done right

How Matt used Python, machine learning, and real-world experience to pivot from Wall Street to tech

What the “#singularity” really means—and how close we are to it right now

Whether you’re nervous about AI or excited by Bitcoin, this is the real conversation you won’t hear in mainstream media.

Jump to a section:

00:00 - Introduction to the Rice Report & Guest Matt McDonough

01:20 - Matt's Background: From Wall Street to AI

05:30 - Founding Throne Capital & Learning Machine Learning

08:40 - Transition to Tech: Building Rev Systems

12:30 - AI in Business: CRM Intelligence & Decision Support

15:55 - Evolution of AI Tools: From NLP to GPT

17:40 - The Power of Leverage Through AI

19:15 - Decentralization & Open-Source AI Importance

23:30 - Decentralization vs Centralization: Why It Matters

26:50 - AI as a Productivity Multiplier & Courier Analogy

30:15 - AI and Family: Time Reclaimed from Tedious Work

33:00 - Getting Comfortable with AI Spiritually & Practically

36:20 - Singularity Explained Simply

39:10 - How Close Are We to the Singularity?

41:45 - The Role of AI in Accelerating Scientific & Tech Progress

44:10 - Practical Tips for Learning & Using AI Daily

48:00 - Importance of Curating AI Information Sources

50:00 - Advice on Navigating X (Twitter) for AI Knowledge

52:00 - Caution Around Getting Personal with AI

53:15 - Analogies & Explanations: Using AI to Learn Smarter

55:00 - The Value of Asking AI for Simplifications & Yes/No

56:50 - Robotics, Manufacturing, & Jobs of the Future

01:00:30 - The Rise of Personalized AI Learning Systems

01:04:00 - AI in Schools: Potential & Concerns

01:06:50 - Transition to Financial Topics: From Wall Street to Bitcoin

01:09:10 - Matt’s Introduction to Bitcoin at the Princeton Club

01:12:15 - Understanding the Fiat System’s Flaws

01:14:50 - What’s Right with Bitcoin vs What’s Wrong with Fiat

01:17:00 - Asset Inflation, Proximity to the Money Printer, & Inequality

01:20:00 - Bitcoin's Unique Decentralization & Security

01:23:00 - AI + Bitcoin: Energy Use & Sovereignty

01:26:00 - Final Thoughts: Prepare, Connect, and Learn

01:27:15 - Where to Find Matt Online

01:28:00 - Closing Remarks & Tease for Next Episode on History of Money

Connect with Matt:

X (formerly Twitter): @mcdonoughmatthew

Substack: lifeinthesingularity.com

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