LOS ANGELES - At a Starbucks in downtown Culver City, Amit Jain pulls out his iPad Pro and presses play. On-screen, one of his employees at Luma AI - the Silicon Valley startup behind a new wave of generative video tools, which he co-founded and now runs - lumbers through the company's Palo Alto office, arms swinging, shoulders hunched, pretending to be a monkey. Jain swipes to a second version of the same clip. Same movement, same hallway, but now he is a monkey. Fully rendered and believable, and created in seconds.

"The tagline for this would be, like, iPhone to cinema," Jain says, flipping through other uncanny clips shared on his company's Slack. "But, of course, it's not full cinema yet." He says it offhandedly - as if he weren't describing a transformation that could upend not just

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