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Intuit's $100m/yr OpenAI Deal & How Tech Companies Juice Profits
Description
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%.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
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Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Chapters
- (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
AI Is Now a First Stop for Tax and Investing Questions - CPAs Need a Playbook Fast
https://www.cpapracticeadvisor.com/2025/10/29/ai-is-now-a-first-stop-for-tax-and-investing-questions-cpas-need-a-playbook-fast/171939/
19% lost $100 or more on bad AI financial advice
https://www.accountingtoday.com/news/19-lost-100-or-more-on-bad-ai-financial-advice
Intuit to pay OpenAI over $100 million for model access, ChatGPT integrates with TurboTax
https://www.cnbc.com/2025/11/18/intuit-pays-openai-100-million-turbotax-integrates-chatgpt.html
Intuit Strikes $100M Deal to Bring TurboTax and QuickBooks Into ChatGPT
https://www.eweek.com/news/intuit-100m-chatgpt-deal/
Intuit signs $100M+ deal with OpenAI to bring its apps to ChatGPT
https://techcrunch.com/2025/11/18/intuit-signs-100m-deal-with-openai-to-bring-its-apps-to-chatgpt/
Intuit and OpenAI join forces on new AI-powered experiences
https://openai.com/index/intuit-partnership/
'Big Short' investor Michael Burry accuses AI hyperscalers of artificially boosting earnings
Michael Burry Hits Back At Critics: A