WEBVTT - Are We Building a Permanent Tech Prison? NVIDIA’s $500B Plan Explained

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<v Speaker 1>Let's do it.

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<v Speaker 2>This is five hundred billion AI investment.

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<v Speaker 3>I'm ver very honest. I already picked a good lesson.

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<v Speaker 3>And when you have battles too, you can't have too many.

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<v Speaker 3>So I picked my battle with Tim Cook and Apple.

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<v Speaker 3>Regardless of what I may think about the circular investment,

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<v Speaker 3>I will never say nothing bad about a video.

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<v Speaker 1>So I'm a video vendor.

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<v Speaker 3>I do think it's very interesting to have this partnership

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<v Speaker 3>between Apollo, Blackstone, Gold and Sacks, all amazing companies on

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<v Speaker 3>the publicly traded markets, all good investments. Long term, I

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<v Speaker 3>do want to see how this develops. I was interested

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<v Speaker 3>on your thoughts on what you think of it. Is

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<v Speaker 3>it a good sign that the industry is going in

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<v Speaker 3>the right direction, or is there like a continuation of

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<v Speaker 3>the circular investment that is now getting broader since all

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<v Speaker 3>the banks are involved.

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<v Speaker 4>Yeah, I think on the the the barecase, I think

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<v Speaker 4>you have to look at it right that circular piece.

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<v Speaker 4>I think the bold case. I think it's encouraging. When

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<v Speaker 4>we talk about CAPEX, we're usually talking about cash flow

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<v Speaker 4>from companies and that CAPEX is funded, and we keep

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<v Speaker 4>talking about this trillion dollars that's going to be spent

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<v Speaker 4>this year, and that's coming predominantly from these four hyperscalers.

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<v Speaker 4>But when you start hearing institutional firms, right Apollo, like

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<v Speaker 4>you said, Blackstone, Golden, Sacks, and a few others, that

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<v Speaker 4>means that institutions are now putting money in here, and

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<v Speaker 4>it won't solely be hyperscalers, it'll be in addition with

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<v Speaker 4>so five hundred billion is nothing to sneeze that. The

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<v Speaker 4>fact that Nvidia has their hand in this as well,

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<v Speaker 4>I don't I mean, what else can we say about

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<v Speaker 4>this company right like art, it's it's almost I don't

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<v Speaker 4>know what other supports we can give to it. They're

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<v Speaker 4>being in this because obviously, when institutional investors are gonna look,

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<v Speaker 4>the first thing that they're gonna need is compute, And

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<v Speaker 4>so you keep pairing this tone, Oh, it's going to

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<v Speaker 4>Compute will be a trader asset.

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<v Speaker 1>In the future, it's a class on.

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<v Speaker 4>Asset class and every step that gets taken you can

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<v Speaker 4>slowly see that that is becoming more and more likely.

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<v Speaker 4>Right now, the question is that five hundred billion dollar investment,

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<v Speaker 4>can they get a trillion dollar return.

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<v Speaker 3>That then one to two ratio? And that's scary because

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<v Speaker 3>I personally like a five x return. I don't think

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<v Speaker 3>we're going to get a two point five trillion dollar

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<v Speaker 3>return out of that. But I never have anything bad

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<v Speaker 3>to say about the video, And for those you're gonna

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<v Speaker 3>ask a price that I do like for in videos

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<v Speaker 3>one ninety nineteen.

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<v Speaker 1>If it falls to the area, that's a place I

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<v Speaker 1>would would like to buy.

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<v Speaker 3>But when I'm looking at return tables, it's going to

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<v Speaker 3>be hard to get a five or seven x out

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<v Speaker 3>of a five hundred billion dollar investment. Now, that maybe

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<v Speaker 3>your goal, but if I don't see a pathway to

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<v Speaker 3>get in there, that is kind of scary.

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<v Speaker 1>Yeah, I think.

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<v Speaker 4>I mean it's encouraging, right, So we got you, said Apollo, Blackstone,

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<v Speaker 4>black Rock, Brookfield, Goldman, SAS and KKR. We knew that

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<v Speaker 4>the conviction was there because we knew that the hyper

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<v Speaker 4>scale is the smartest people in the world, the smart

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<v Speaker 4>CFOs and some of the smartest engineers in the world

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<v Speaker 4>of tech are behind that investment. Now to have the

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<v Speaker 4>biggest institutions in the world also be in that same

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<v Speaker 4>investment for me, that's a bullet sign. Do you do

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<v Speaker 4>you feel the same way or is there still like

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<v Speaker 4>a beer case?

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<v Speaker 3>No, no, no, no, no, no, absolutely because even at that level, and

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<v Speaker 3>I talked about it on stage, like the put car

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<v Speaker 3>ratio of a stock matters how much they're invested in

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<v Speaker 3>what percentage into a fund. But when you see this

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<v Speaker 3>is kind of like a post ipo to a certain degrey,

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<v Speaker 3>like when we went on Wall Street. You see all

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<v Speaker 3>the banks collaborating. When the big boys get together and

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<v Speaker 3>when they're putting in fifty billion at a time for

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<v Speaker 3>a project, they're going to ensure that it works. This

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<v Speaker 3>is almost like a digital infrastructure build a different version

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<v Speaker 3>of build back better and so long term, I do

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<v Speaker 3>think there is a long term case. And it's also

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<v Speaker 3>showing that it's the last big frontier of something you

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<v Speaker 3>can invest in at scale that I'm looking for return

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<v Speaker 3>into five or ten years out. So yeah, it's definitely

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<v Speaker 3>a bulls skates for then these are not the bottom

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<v Speaker 3>of a tier ranks. They're all putting money in together

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<v Speaker 3>and no hedging on it. They're not investing in this

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<v Speaker 3>and shorting amb They're positive on the stock and then

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<v Speaker 3>positive on the development of it.

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<v Speaker 1>So that's a great sign.

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<v Speaker 4>You bring up a great point, how many times will

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<v Speaker 4>we see this level investment from this many big players

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<v Speaker 4>for the same technology that tells you the points of it.

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<v Speaker 4>They're not just saying, hey, we're doing this for charity.

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<v Speaker 4>They're doing this because it's not just one trillion they're

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<v Speaker 4>looking for. They're looking for how do we get to five?

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<v Speaker 4>How do we get to ten?

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<v Speaker 1>Yeah? Good point.

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<v Speaker 2>Let's talk about how long can tech lead?

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<v Speaker 3>I think you want to start. I know a lot

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<v Speaker 3>of industries have a shelf life. If you look at railroads,

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<v Speaker 3>if you look at oil and gas, and you can

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<v Speaker 3>argue to certain degree energy and oil and gas still

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<v Speaker 3>runs the world through the partnership through tech. I think

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<v Speaker 3>it's a great question, but it's also misaligned. If you

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<v Speaker 3>are a great long term investor, tech is going to

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<v Speaker 3>run our lives for the next hundred years, and if

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<v Speaker 3>the oligarchs have anything to do with it, we will

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<v Speaker 3>be in a permanent tech prison. There's been some conversations

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<v Speaker 3>on f tech is going to stop being the number

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<v Speaker 3>one consideration and an investment portfolio. And the truth is

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<v Speaker 3>our greatest exp to the world in America for the

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<v Speaker 3>publicly traded markets is our technology. You can make the

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<v Speaker 3>argument is it good or bad? Is it destroying connection?

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<v Speaker 3>And families and all that. That's another conversation. But in

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<v Speaker 3>the worst case scenario, tech probably has like another sixty

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<v Speaker 3>years to run. And then if once we get out

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<v Speaker 3>to the twenty.

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<v Speaker 1>Nineties, do we think tech will be less or more so?

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<v Speaker 3>Sometimes we can overcomplicate investment too much and then we're

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<v Speaker 3>trying to time. Once again, that's a big short mindset.

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<v Speaker 3>When is this industry going to fall apart? My short

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<v Speaker 3>ass is never. Tech is being included in healthcare, is

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<v Speaker 3>being included in the oil and glasses, being included in industrials,

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<v Speaker 3>is being included in education, as being introduced to farming.

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<v Speaker 1>You can argue technology ruined farming. Tech isn't.

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<v Speaker 2>Tech actually revolutionized farming though too? Think about it?

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<v Speaker 1>Good?

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<v Speaker 3>What's out of the cornin if you're a farmer, not

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<v Speaker 3>so much now scale ra Sha, I agree with you.

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<v Speaker 3>But if you're a farmer, maybe not so much. But

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<v Speaker 3>if you're a technologist, that could make it more efficient

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<v Speaker 3>for sure.

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<v Speaker 2>But like irrigation, that's problem. Yeah, but irrigation technology right, yeah,

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<v Speaker 2>the cotton gin that's technology.

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<v Speaker 3>Well, we're not going to talk about that particular piece

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<v Speaker 3>of tech because that was you know, well, the co

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<v Speaker 3>the cotton gen is with into slavery.

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<v Speaker 2>That's the thing that so this is this is an

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<v Speaker 2>interesting way to look at it. Right, Slavery was ended

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<v Speaker 2>by technology, not by political It wasn't we talked about

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<v Speaker 2>Abraham Lincoln before. It wasn't political, it wasn't moral. Slavery,

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<v Speaker 2>the institution of slavery was ended by technology once it

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<v Speaker 2>became more it became inefficient to have human labor and

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<v Speaker 2>more efficient to have machine labor, which is a form

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<v Speaker 2>of technology at that time cutting edge technology that within

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<v Speaker 2>itself kind of crippled the idea that we need people

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<v Speaker 2>to pick kai.

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<v Speaker 3>It went from overt slavery through Farman and those practices,

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<v Speaker 3>and then it went covert into banking and then venture,

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<v Speaker 3>which that money flows into technology.

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<v Speaker 1>So I agree overtly it did.

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<v Speaker 3>Covertly the racism shifted to a certain degree, and then

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<v Speaker 3>you can argue then from there, the prison industrial complex

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<v Speaker 3>developed off of the back of that technology.

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<v Speaker 1>So it wasn't as overt. So we should call nineteen keys.

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<v Speaker 4>I think the last segment kind of answers the question

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<v Speaker 4>for this segment. I don't see a lifetime for us

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<v Speaker 4>where it doesn't lead. I don't care what sector you're in.

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<v Speaker 4>It is going to be the forefront of that sector.

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<v Speaker 4>Whether it's education, whether it's industrials, whether it's healthcare, it

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<v Speaker 4>will be the thing that disrupts it and changes it

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<v Speaker 4>now better for worse. That could be a debate, but

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<v Speaker 4>it is the thing that makes life again. The two

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<v Speaker 4>things that we need most people want is efficiency and convenience. Right,

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<v Speaker 4>technology allows for both, and so pick a sector, tech

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<v Speaker 4>will lead it. I don't care what the company is,

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<v Speaker 4>and so it will have the lead for the foreseeable future,

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<v Speaker 4>which tells you why they're investing five hundred billion to

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<v Speaker 4>turn this into a tradable asset. Where we're talking about compute,

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<v Speaker 4>which is why five companies are spending a trillion dollars

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<v Speaker 4>because they're expecting return on it. Which is why they're

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<v Speaker 4>talking about having robotics, which is why they're talking about

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<v Speaker 4>having space. Like all these things tell you that technology

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<v Speaker 4>is going to lead the foreseeable future and who knows

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<v Speaker 4>how many lifetimes.

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<v Speaker 2>And also that was one of the things I listened

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<v Speaker 2>to Mike Novercraftsmen. He was on to invest that stage,

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<v Speaker 2>and he was talking about data centers. So this company

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<v Speaker 2>just brought the name of rights to Texas Tech Stadium,

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<v Speaker 2>and he's he's has operations in Texas now, so he's

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<v Speaker 2>invested in data centers. And he was saying the cost

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<v Speaker 2>of a data center, these costs of the data centers

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<v Speaker 2>is crazy. I think he's like his company personally put

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<v Speaker 2>like five billion. They financed twenty five billion, thirty billion

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<v Speaker 2>all in for like one data center one. And he

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<v Speaker 2>was talking about that on stage as far as like

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<v Speaker 2>how much money is being poured into these data centers.

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<v Speaker 2>So the tech spending, going back to the five hundred

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<v Speaker 2>billion dollar investment, I mean, it's it's going to be

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<v Speaker 2>it's unfathomable. And how much money is going to be

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<v Speaker 2>spent on technology in the next Alicia Little had robots

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<v Speaker 2>doing karate and if in the marketplace.

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<v Speaker 4>I watched them do jiu jitsu. I watched them dance

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<v Speaker 4>with the brat I hold. I watched them whole court,

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<v Speaker 4>in the lobby and the whole ways. People were just

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<v Speaker 4>like it was. They were blown away by it. Technology.

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<v Speaker 3>Again, again, we were making the same point even from

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<v Speaker 3>a cap table, an investment deployment scenario, It's not in

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<v Speaker 3>many industries they will even elect you a lot that

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<v Speaker 3>amount of money, Like think for even for us, we're

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<v Speaker 3>fighting to get into rounds, and they're lessening the amount

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<v Speaker 3>that we can get in because it's open subscribe. You

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<v Speaker 3>can't go to a B to B real estate form

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<v Speaker 3>and deploy one hundred million dollars easily, like there's not

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<v Speaker 3>if you're raising funds. There's only a certain amount of

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<v Speaker 3>avenues that you can even deploy that much capital scale,

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<v Speaker 3>and that's through tech. You can't do it internationally in

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<v Speaker 3>other venues in other sector. So for that reason alone,

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<v Speaker 3>tech is going to continue to thrive because everybody's trying

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<v Speaker 3>to open subscribe to.

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<v Speaker 1>The seat round. The Series A, Series B, Series D,