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 Subscribe for more conversations about tech, money, and the future of freedom.