WEBVTT - THE AI BUBBLE IS BURSTING? ⚠️ 4 Tech Stocks I’d Hold No Matter What 0:00:00.120 --> 0:00:03.320 AI bubble warning. There's been a recent AI bubble warning issued, 0:00:03.360 --> 0:00:05.680 a new one. What's your thoughts on this. 0:00:08.680 --> 0:00:11.880 I don't know if bubble is the right term, but 0:00:11.960 --> 0:00:14.960 a few institutions have issued this warning. We'll get to 0:00:15.000 --> 0:00:20.400 Alex in a second. I do think that the AI 0:00:20.840 --> 0:00:23.680 promise has not been delivered. Like I asked a question 0:00:24.760 --> 0:00:27.240 last week and it was slightly controversial for whatever reason 0:00:27.320 --> 0:00:31.000 after but shot to everyone of Microsoft, love you guys, 0:00:31.000 --> 0:00:32.360 seal it from bottle of my heart, one of my 0:00:32.400 --> 0:00:34.159 favorite companies of all time, sat to one of my 0:00:34.159 --> 0:00:37.440 favorite CEOs ever better than Tim Cook, et. 0:00:37.400 --> 0:00:38.000 Cetera, et cetera. 0:00:38.720 --> 0:00:42.440 You can't run your business off co pilot like for 0:00:42.600 --> 0:00:47.520 all the automations that we have and shot to perplexity 0:00:47.680 --> 0:00:51.560 and everything's tied done, Shot to leash you little still 0:00:51.600 --> 0:00:55.600 to this day, I can't set up all these agents 0:00:55.680 --> 0:00:59.360 and then just go off to Mexico and do no 0:00:59.440 --> 0:01:01.160 work for two week and come back and the agents 0:01:01.160 --> 0:01:06.039 have everything done. The first company that provides that kind 0:01:06.040 --> 0:01:09.080 of premise and return they're going to And as a result, 0:01:09.560 --> 0:01:12.840 with even AI not delivering is as well as it should. 0:01:12.959 --> 0:01:17.760 It's obliterated the software category. So bubble no, I think 0:01:17.760 --> 0:01:20.240 people forget Even in the dot com era, it took 0:01:20.280 --> 0:01:22.280 a while for things to be calibrated. I don't think 0:01:22.319 --> 0:01:24.479 it will take that long. But I think we may 0:01:24.480 --> 0:01:28.720 be three or four years off from having systems of 0:01:28.760 --> 0:01:32.679 scale and tech at scale that it really allows you 0:01:32.720 --> 0:01:36.000 to offload your workforce and the cost isn't so high 0:01:36.600 --> 0:01:38.760 to be able to do so. So I wouldn't say bubble, 0:01:39.280 --> 0:01:41.880 but it hasn't delivered on the return that it was 0:01:41.920 --> 0:01:45.080 initially promised. If you can lay off your workforce and 0:01:45.160 --> 0:01:47.640 enjoy more of your life and be off grid and 0:01:48.040 --> 0:01:50.200 just to let the lllms run in the background, like 0:01:50.240 --> 0:01:52.280 that premise, isn't there, Like, I don't, do you guys 0:01:52.320 --> 0:01:55.720 know of anyone. I've asked this question to probably two 0:01:55.840 --> 0:02:00.400 hundred people over the last year. No one is just 0:02:00.520 --> 0:02:04.400 leaving their business to be run solely by lol. 0:02:05.560 --> 0:02:08.160 Yeah, yeah, the idea. 0:02:08.240 --> 0:02:11.160 I mean, I think one of the greatest minds that 0:02:11.200 --> 0:02:15.000 has lived through both and his business has been benefited 0:02:15.040 --> 0:02:19.680 tremendously because of it, spoke on this recently. Jeff Bezos 0:02:20.000 --> 0:02:22.280 was asked about the bubble, and he said, I want 0:02:22.320 --> 0:02:25.320 you to think of it like this. Right now, businesses 0:02:25.360 --> 0:02:29.400 are being done in terms of picks and shovels, right 0:02:29.400 --> 0:02:32.560 like people are manually doing the work. He said, think 0:02:32.600 --> 0:02:36.400 of AI as a bulldozer. So if you were digging 0:02:36.440 --> 0:02:39.800 with a pick and the shovel, well, bulldozer is about 0:02:39.840 --> 0:02:44.760 to come and make everything happen a lot faster, more efficiently, 0:02:45.320 --> 0:02:49.440 and have more skill and so the actual tax won't 0:02:49.440 --> 0:02:53.079 be replaced. How we get the task done will be altered. 0:02:53.160 --> 0:02:59.200 So companies will survive, some some will falter, but that's business, 0:02:59.440 --> 0:03:03.520 and that's what happens inside of revolutions, especially in the 0:03:03.560 --> 0:03:06.960 technology space. And he has a great vantage point because 0:03:07.000 --> 0:03:10.680 in nineteen ninety seven, yeah, look at what his company 0:03:10.800 --> 0:03:13.840 was and in twenty twenty six, obviously he's not the 0:03:14.440 --> 0:03:17.040 CEO anymore, but look at what that company has grown to, 0:03:17.919 --> 0:03:20.000 right because he was able to adapt, he was able 0:03:20.040 --> 0:03:22.760 to use the technology to his advantage, and he was 0:03:22.800 --> 0:03:24.760 able to scale it. So that's how we got to 0:03:24.840 --> 0:03:27.240 have to look at it. The AI bubble. We've been 0:03:27.280 --> 0:03:28.359 talking about this thing for. 0:03:28.800 --> 0:03:31.040 At least eighteen months now. 0:03:31.040 --> 0:03:33.760 Man, I'm like, okay, okay, if there's gonna be a bubble, 0:03:33.840 --> 0:03:35.760 let's find the companies that are going to be here 0:03:36.560 --> 0:03:37.000 when this. 0:03:37.040 --> 0:03:40.760 So caught bubble burst, who will be the standing companies? 0:03:41.120 --> 0:03:43.000 I think we were spot on with the ones that 0:03:43.040 --> 0:03:45.960 we've been saying for sure, the time will tell, and 0:03:46.000 --> 0:03:47.400 I think we're going to be on the right side 0:03:47.400 --> 0:03:49.040 of it. 0:03:49.200 --> 0:03:50.520 The thoughts. 0:03:51.880 --> 0:03:55.640 Bubble is relative, I feel like, yeah, there's a lot 0:03:55.640 --> 0:03:58.840 of companies that well, it just actually leads to an 0:03:58.880 --> 0:04:02.320 als car Cliff. Actually, look, let's play this. Let's let's 0:04:02.320 --> 0:04:04.280 play the clip from Atlas because that this kind of 0:04:04.320 --> 0:04:06.000 just leads into this conversation. 0:04:07.640 --> 0:04:10.320 The Alex carb going CNBC last week and torch the 0:04:10.440 --> 0:04:12.920 entire AI business model, like Becky Quick had to stop 0:04:12.960 --> 0:04:16.000 a mid rant like you sound pretty angry, and his response, 0:04:16.200 --> 0:04:18.680 this is the voice of American Business Channel through me. 0:04:19.040 --> 0:04:21.040 I mean his rants, they're usually pretty epic, but I 0:04:21.040 --> 0:04:22.920 think he hit on two sticking points that a really 0:04:22.920 --> 0:04:26.240 decide how AI diffuses through the economy. Number one is 0:04:26.240 --> 0:04:28.440 that enterprises are losing trust in a lot of these 0:04:28.480 --> 0:04:31.039 AI model companies. He's saying because they're not safe, and 0:04:31.080 --> 0:04:32.600 safe is a little bit different than you think. So 0:04:32.680 --> 0:04:33.400 let's hear him out. 0:04:33.560 --> 0:04:36.359 Safe because it doesn't touch your unlearning data. Safe because 0:04:36.360 --> 0:04:38.800 it prevents a large language model from caching your data 0:04:38.839 --> 0:04:41.840 and replicating your business safe because it doesn't transfer your 0:04:41.880 --> 0:04:44.560 ip of how to fight secret data, top secret data 0:04:44.640 --> 0:04:46.160 or in a clinical context. 0:04:46.200 --> 0:04:47.880 And the second is that a lot of these large 0:04:47.960 --> 0:04:51.040 enterprise customers are now wanting to own the entire AI stack, 0:04:51.160 --> 0:04:54.440 compute models, their data, all of it. Again, take it away, Alex. 0:04:54.600 --> 0:04:57.120 Here's the structural problem that he's calling out. Your edge 0:04:57.160 --> 0:04:59.960 as a company depends on that proprietary data. Your AI 0:05:00.160 --> 0:05:02.960 vendor depends on their models getting smarter, and how do 0:05:03.000 --> 0:05:04.880 you think they do that? So there's a collision course 0:05:05.000 --> 0:05:07.280 because the labs aren't just selling tokens anymore. 0:05:07.279 --> 0:05:14.279 They're Okay, So Alex Carr, he went on a whole 0:05:14.360 --> 0:05:17.880 rant on CNBC about AI, his frustration with a lot 0:05:17.920 --> 0:05:18.800 of AI companies. 0:05:19.320 --> 0:05:19.640 Mm hm. 0:05:20.480 --> 0:05:25.160 And you know he's been known to go on rants 0:05:25.200 --> 0:05:28.359 from Tom to tom on a variety of different things. Okay, 0:05:28.400 --> 0:05:32.680 so back to the AI bubble thing. AI bubble, yeah 0:05:32.720 --> 0:05:34.960 for sure, because a lot of the companies are not 0:05:34.960 --> 0:05:39.239 built on anything found fund foundationally strong to just putting 0:05:39.279 --> 0:05:41.040 AI in front of their name and just saying we're 0:05:41.040 --> 0:05:42.640 going to do this, We're gonna do that. Like you said, 0:05:42.920 --> 0:05:47.799 I personally have yet to see AI do a variety 0:05:47.839 --> 0:05:51.880 of different things that people think it can do. Like 0:05:51.960 --> 0:05:55.279 even if you look at our world, like AI cannot 0:05:55.320 --> 0:05:59.360 create content. If it did, If it did, everybody would 0:05:59.360 --> 0:06:03.600 be content creator. Yeah, I know, I know this first hand. 0:06:03.640 --> 0:06:07.560 Is it yet or just well until until it's done it, 0:06:07.680 --> 0:06:08.120 we can't. 0:06:08.200 --> 0:06:12.719 We can't. It can help you make content, Yeah, it 0:06:12.760 --> 0:06:15.560 can't make it. It can't future for it can go off 0:06:15.600 --> 0:06:16.080 the past. 0:06:16.640 --> 0:06:20.040 It can make content. It's not it's not it's not good. 0:06:20.320 --> 0:06:23.680 It's not good enough, not great. It's not great. It's 0:06:23.720 --> 0:06:24.159 not great. 0:06:25.839 --> 0:06:27.080 But I can't. 0:06:27.279 --> 0:06:29.479 You would say, okay, I could just make I don't 0:06:29.520 --> 0:06:31.760 think I do no work. I could just make a video. 0:06:31.800 --> 0:06:33.920 I'm gonna have AI cut up and then it's gonna 0:06:33.920 --> 0:06:35.839 get a million views, and that's gonna be my pathway 0:06:35.839 --> 0:06:37.320 to become the next Logan Paul. 0:06:38.920 --> 0:06:42.599 It has not happened mm hmm. I like up clip, 0:06:42.720 --> 0:06:43.599 but but it does. 0:06:43.600 --> 0:06:47.520 Happen for I Just what's happening for I just watched 0:06:47.960 --> 0:06:54.360 AI travel channel that has like ten million followers completely 0:06:54.360 --> 0:06:57.480 made up. She goes in history and takes you through 0:06:57.600 --> 0:07:01.039 history and it feels like off all. 0:07:02.279 --> 0:07:05.159 Yeah, but even that that's different, that's utilizing AI to 0:07:05.200 --> 0:07:07.480 give you, Like we have French Martinis. What we do 0:07:08.080 --> 0:07:09.800 for the content. We can say that we because we 0:07:09.880 --> 0:07:12.600 use AI for our content. So we have French Martana episode. 0:07:12.600 --> 0:07:14.600 A few of those clips. One clip went viral, had 0:07:14.640 --> 0:07:17.760 a million views. We used AI in it because it's 0:07:17.800 --> 0:07:20.680 nar we're telling the story. That's different. That's still an 0:07:20.840 --> 0:07:25.160 editor that's actually knows what they're doing, that's placing AI 0:07:25.480 --> 0:07:28.640 in it, utilizing that's still work involved. I'm saying as 0:07:28.640 --> 0:07:33.640 far as the hands free pilot, I don't got autonomous 0:07:33.800 --> 0:07:35.920 AI is doing everything for me. That's not that hasn't 0:07:35.920 --> 0:07:36.480 happened yet. 0:07:36.560 --> 0:07:37.640 So that's. 0:07:39.120 --> 0:07:41.920 The idea of AI, I think is ahead of the 0:07:41.920 --> 0:07:45.480 reality of AI. The idea of AI is ahead of 0:07:45.480 --> 0:07:47.960 the reality of AI, and a lot of different in 0:07:48.000 --> 0:07:51.560 a lot of different places. We still have We still 0:07:51.560 --> 0:07:54.040 don't have the Jetson's car that we're supposed to have 0:07:54.120 --> 0:07:56.480 twenty five years ago, still waiting for that to happen. 0:07:57.080 --> 0:08:00.400 Like there's still pilots in the sky, the supposed to 0:08:00.400 --> 0:08:04.520 have autonomous planes by now, like commercial I mean, that's 0:08:04.560 --> 0:08:06.480 what that's what you would think would happen at this 0:08:06.560 --> 0:08:09.920 point in time in twenty twenty six, like, that's that's, 0:08:10.120 --> 0:08:11.120 that's what the promise is. 0:08:12.760 --> 0:08:14.960 In ninety we were promm the justice came out on 0:08:14.960 --> 0:08:15.840 what seventy. 0:08:15.960 --> 0:08:19.880 Exactly, I'm saying AI, the current state of AI, the 0:08:19.920 --> 0:08:24.200 revolution that has happened over the past three years. What like, 0:08:24.200 --> 0:08:26.680 we're just doing large language models right now, so like 0:08:27.080 --> 0:08:28.120 what are you basing that off? 0:08:28.360 --> 0:08:30.440 Even the large language models is still being prompted. So 0:08:30.480 --> 0:08:32.560 what I'm saying, like what Ian said, there's still a 0:08:32.600 --> 0:08:36.080 person attached to it, this idea that humans are going 0:08:36.160 --> 0:08:39.560 to be not needed anymore. That's the narrative that's been 0:08:39.600 --> 0:08:42.800 pushed a lot. Humans will be no longer needed. I 0:08:42.840 --> 0:08:46.439 haven't seen that. I haven't seen that the idea, the 0:08:46.480 --> 0:08:49.920 idea of AI has gotten ahead of the practicality of AI. 0:08:50.520 --> 0:08:52.480 Of course, AI is going to be here. AI is 0:08:52.480 --> 0:08:54.600 going to change the world. AI has changing the world 0:08:54.679 --> 0:08:58.160 every single day. But there's a lot of companies that's 0:08:58.200 --> 0:09:01.439 just coming up with random ideas for AI and it's 0:09:01.440 --> 0:09:03.720 not gonna it's not gonna work. And when that, when 0:09:03.760 --> 0:09:06.600 that happens, a lot of these companies are gonna fall 0:09:06.640 --> 0:09:07.320 by the way side. 0:09:08.679 --> 0:09:10.400 And I'm not sure you. 0:09:11.920 --> 0:09:12.280 Tell me what. 0:09:14.320 --> 0:09:17.120 Well, I think we're so early inside. 0:09:17.360 --> 0:09:21.320 I think the argument that's fair to make, uh, is 0:09:21.360 --> 0:09:25.160 that we haven't seen the revenue generated from the spend 0:09:25.320 --> 0:09:29.040 in AI and that takes time right now, Right, so 0:09:29.280 --> 0:09:32.920 we're still we still have infrastructure, yet, we stilln't have 0:09:33.040 --> 0:09:36.200 energy yet, the applications are still trying to get. Software 0:09:36.520 --> 0:09:39.000 hasn't even been put out. Yeah, you have a few 0:09:39.360 --> 0:09:42.400 models platforms that you use, you have five now, but 0:09:42.559 --> 0:09:45.560 like that's drastically gonna change in the next five years, right, 0:09:45.600 --> 0:09:50.640 So I think we're so early that that argument, I 0:09:50.679 --> 0:09:53.360 think still needs time to come to fruition. Right, Like 0:09:53.480 --> 0:09:57.199 obviously Argentic will be here at some point in their 0:09:57.240 --> 0:10:01.000 future autonomous that's it's going to happen. 0:10:01.080 --> 0:10:02.559 It's going to take time for it to happen. 0:10:03.080 --> 0:10:05.800 I think that the fair argument from my standpoint would 0:10:05.840 --> 0:10:08.800 be and I could agree and kind of what Alex 0:10:08.880 --> 0:10:13.640 is saying here is, yes, the spend and the cap X, 0:10:14.160 --> 0:10:18.240 where's the return the other return for a lot of 0:10:18.320 --> 0:10:20.160 companies yet, right, you can't. 0:10:20.160 --> 0:10:22.080 You wouldn't say that for Micron there's been a return. 0:10:22.360 --> 0:10:25.960 Yeah, I said they were the smart them SK and video. 0:10:26.720 --> 0:10:30.160 But the premise of the adel. But for open A 0:10:30.440 --> 0:10:34.959 like I've been using chat since twenty into twenty one 0:10:35.040 --> 0:10:39.680 or twenty two. Even the premister on the business side 0:10:39.760 --> 0:10:41.360 or consumer side, a lot of the stuff that they 0:10:41.400 --> 0:10:44.160 said that could do it hasn't been able to do. 0:10:44.200 --> 0:10:46.080 Even like when Charlotte Mae makee that post like Ian 0:10:46.160 --> 0:10:49.200 you're in trouble, open aie out and choles like no 0:10:49.280 --> 0:10:52.000 you need human intuition like it can. And even for 0:10:52.120 --> 0:10:57.240 investing open AI, when you prompted it last and best 0:10:57.280 --> 0:10:59.440 fast for what the next stocks were going to be, 0:11:00.040 --> 0:11:02.600 it got all of the wrong. So I think there's 0:11:02.679 --> 0:11:05.360 a way to go. But I think the initial premise 0:11:05.760 --> 0:11:08.760 and promise for what is being spent in terms of 0:11:08.880 --> 0:11:12.280 like uh, he talked about tooking pricing and then the 0:11:12.320 --> 0:11:14.440 thing I've been always asking, how do you get five 0:11:14.480 --> 0:11:17.360 extra I said it with open a eye, okay, going 0:11:17.440 --> 0:11:19.760 to okay, why you need to sell five percent of 0:11:19.880 --> 0:11:22.080 opening off to the government if you got a machine 0:11:22.080 --> 0:11:23.160 that could replicate. 0:11:22.800 --> 0:11:26.040 God, you're bullshitting on one side or another. 0:11:26.320 --> 0:11:29.040 And it's just it's just even I must you change 0:11:29.040 --> 0:11:31.480 a company from a car company to a robotic company. 0:11:31.880 --> 0:11:34.560 There's no need to have one hundred million humanoid robot. 0:11:34.559 --> 0:11:37.160 It's not going to happen. It's a fairy tale. That's 0:11:37.200 --> 0:11:39.160 a fairy tale. It's not going to happen. It's never 0:11:39.160 --> 0:11:40.120 gonna it's not gonna happen. 0:11:40.160 --> 0:11:42.840 Because that's the case, they would have just traded the 0:11:42.920 --> 0:11:45.679 arbitrage on if the model was that fucking great to 0:11:45.720 --> 0:11:47.440 open the shot, to open the eye. But if the 0:11:47.480 --> 0:11:49.640 model was that great, you would have traded arbitrage every 0:11:49.720 --> 0:11:52.400 day to not raise capital. That was the first sign 0:11:52.440 --> 0:11:54.400 to me, this ship with work. That's what the topic 0:11:54.520 --> 0:11:55.720 does not have that issue. 0:11:56.520 --> 0:11:59.000 That's why I think the keyword is yet right, because 0:11:59.000 --> 0:12:00.680 the one thing that we do know about the models 0:12:00.760 --> 0:12:03.240 is that even as we're talking, they're getting better. 0:12:03.960 --> 0:12:04.120 Right. 0:12:04.200 --> 0:12:07.960 And so three years ago we sat here to a 0:12:08.040 --> 0:12:10.200 t like you said, open a iur lead, You said, 0:12:10.240 --> 0:12:11.079 open a I wourl lead. 0:12:11.640 --> 0:12:12.559 Is it our leader today? 0:12:13.120 --> 0:12:16.400 No? It adjusted adjustment model. 0:12:16.880 --> 0:12:18.840 That that goes to the case that that models are 0:12:18.840 --> 0:12:21.439 getting better. Right, in a year, we might not even 0:12:21.480 --> 0:12:23.240 say open AI is our leader. It might be something 0:12:23.280 --> 0:12:26.079 different because something would have surpassed it. So we're still 0:12:26.160 --> 0:12:26.720 early in this. 0:12:27.080 --> 0:12:29.640 I think they've already been surpassed, and I brought up 0:12:29.679 --> 0:12:32.240 to and also to the Elon. 0:12:32.440 --> 0:12:35.120 This will always be telling y'all that beef. It doesn't help. 0:12:35.920 --> 0:12:40.040 The Elon battle destroyed the company because the Lenz he 0:12:40.160 --> 0:12:42.960 was willing to go. And then here comes anthrop pick. 0:12:43.480 --> 0:12:46.200 They take the lead. The model is but anytime you 0:12:46.200 --> 0:12:46.839 get to asking for. 0:12:46.760 --> 0:12:48.160 That two hundred cool. 0:12:48.679 --> 0:12:50.720 So I'm happy with it. 0:12:50.800 --> 0:12:53.600 And that kind of ties back into the invented Nvidia piece. Right, 0:12:53.840 --> 0:12:55.679 I'm going to put the capital, I'm going to give 0:12:55.720 --> 0:12:58.000 the compute. Un let's see who comes back with the 0:12:58.000 --> 0:13:00.560 thing that is going to lead. I think that the Alice. 0:13:00.720 --> 0:13:02.760 I watched that thing live, so it's just if you 0:13:02.800 --> 0:13:05.959 haven't seen it. It's a seven minute segment. But I'm 0:13:06.000 --> 0:13:07.959 glad we cut this piece because he keeps bringing the 0:13:08.000 --> 0:13:12.080 word up safe, safe, safe, and if you think about safe, 0:13:13.000 --> 0:13:15.160 I keep hearing him talking about In my mind, he's 0:13:15.160 --> 0:13:16.280 talking about his own company. 0:13:16.600 --> 0:13:17.360 Why are we shitting? 0:13:17.720 --> 0:13:20.360 Why are we getting beat when these people aren't inching 0:13:20.400 --> 0:13:23.400 money and we have the idea and the platform and 0:13:23.440 --> 0:13:25.520 the technology to keep he was talking his own book 0:13:25.600 --> 0:13:28.280 for sure, we want to keep you safe. Right, we 0:13:28.320 --> 0:13:31.920 have the government contracts. Our platform is the place those 0:13:32.000 --> 0:13:33.360 applications aren't ready yet. 0:13:33.480 --> 0:13:35.600 These people are trying to spend and spend. 0:13:35.760 --> 0:13:37.800 Now, the AI model is, hey, we're going to build 0:13:37.880 --> 0:13:41.200 inside of our in house, which again two things can 0:13:41.240 --> 0:13:43.000 be true, because we just I just read the report 0:13:43.040 --> 0:13:46.240 that Broadcom and Google Google might say, hey, you know what, 0:13:46.280 --> 0:13:48.400 We're going to use our own silicone to build our 0:13:48.440 --> 0:13:49.079 own TVU. 0:13:49.400 --> 0:13:50.679 We may not need you anymore. 0:13:50.920 --> 0:13:53.600 At the same time, Apple says, okay, cool, broad Coom, 0:13:53.600 --> 0:13:56.560 you're going to be our partner into twenty thirty one. Right, 0:13:56.679 --> 0:13:59.400 So people are saying, how can we keep the stack inside? 0:13:59.480 --> 0:14:02.400 The problem with that theory is that how many companies 0:14:02.400 --> 0:14:08.000 can afford to keep the entire stack? Not many three three, 0:14:08.400 --> 0:14:11.960 maybe not even Google Amazon. 0:14:12.320 --> 0:14:16.640 Maybe they put up some money, but they won't. 0:14:16.559 --> 0:14:19.520 But they won't, So that that's such a limited space. 0:14:20.040 --> 0:14:22.280 How many people can actually do that, right, So it 0:14:22.400 --> 0:14:24.640 becomes not a monopoly, But I mean it is a 0:14:24.680 --> 0:14:26.600 monopoly in the sense if I'm doing everything in house. 0:14:27.400 --> 0:14:30.560 So he's saying the right thing, but he's also promoting 0:14:30.560 --> 0:14:34.080 what they do, right, because why is the software space 0:14:34.080 --> 0:14:34.800 getting beat down? 0:14:37.600 --> 0:14:37.720 Right? 0:14:38.480 --> 0:14:39.520 AI is software? 0:14:39.560 --> 0:14:41.720 That's the other funny part of that is what I'm 0:14:41.760 --> 0:14:43.960 saying for those who don't know AI is software. But 0:14:44.080 --> 0:14:49.560 going back to depictions and shovels Micron AMD until when 0:14:49.560 --> 0:14:55.040 they got selected they made a great return on capital. Conversation, 0:14:55.360 --> 0:14:58.080 put this in check. Every business is in the hedge 0:14:58.080 --> 0:15:00.880 front business? How much more? And can I make you? 0:15:01.280 --> 0:15:04.400 How much can I save you? How reliable can I 0:15:04.440 --> 0:15:06.440 be if I made you money? Please put yes and jet. 0:15:07.240 --> 0:15:10.040 What open AI has not done. They haven't done a 0:15:10.080 --> 0:15:14.160 great job of letting the consumer base know how much 0:15:15.120 --> 0:15:17.640 easier your life can be. Even like when open claw 0:15:19.000 --> 0:15:22.280 came out, that was an issue. Deep sequeens an issue. 0:15:22.560 --> 0:15:26.200 And then also too, we haven't had an American company 0:15:26.200 --> 0:15:31.040 that is open sourcing yet. That's the real trojan forest 0:15:31.160 --> 0:15:36.320 in threats. Yes, that could lead to enterprise growth kind 0:15:36.320 --> 0:15:41.880 of like, but now we get into the Microsoft, we're 0:15:41.920 --> 0:15:43.480 going to open source it and let you be in 0:15:43.520 --> 0:15:44.359 our ecosystem. 0:15:44.640 --> 0:15:47.880 But what open sourcing? There's gonna come some ip and 0:15:48.000 --> 0:15:49.280 idea theft. 0:15:49.560 --> 0:15:52.080 It happened with words for those who don't know, Like, 0:15:52.120 --> 0:15:55.200 even though Microsoft my biggest favorite company of all time. 0:15:56.320 --> 0:15:58.640 The origins are still nefarious. 0:15:59.360 --> 0:16:01.320 So even if they open source, what platform will they 0:16:01.320 --> 0:16:03.600 build on? What's the first place Whe's the first place 0:16:03.640 --> 0:16:04.960 they're going on we try to go home. 0:16:05.040 --> 0:16:08.200 Ya gotta go to the mothership mh. 0:16:09.000 --> 0:16:10.840 So that so even an open source right, you can 0:16:10.880 --> 0:16:12.920 see KOA still being the software that they're gonna build. 0:16:13.120 --> 0:16:14.520 You got you gotta go to the maltorship. 0:16:14.920 --> 0:16:19.400 And that's why like the suppression of Nvidia, because if 0:16:19.400 --> 0:16:22.280 we argue motes, they literally have. 0:16:24.400 --> 0:16:28.120 Governmental motes on both sides. 0:16:29.320 --> 0:16:32.280 They have the spend, they have the hardware, they have 0:16:32.320 --> 0:16:37.480 the platform, the partnership and likability. I don't get the compression, 0:16:38.240 --> 0:16:41.040 I really don't, but it's going back to people are 0:16:41.080 --> 0:16:43.080 just chasing in return and I were chasing quality. 0:16:43.600 --> 0:16:46.760 I saw somebody in the chat said three hundred by 0:16:46.800 --> 0:16:48.680 the end of the year. I'm not mad at I'm 0:16:48.680 --> 0:16:50.720 not mad at the video at Like in the two seventies, 0:16:50.720 --> 0:16:52.360 by the NDA, I can I can see the path 0:16:52.360 --> 0:16:53.600 forward the consolidation now. 0:16:54.120 --> 0:16:54.920 Is it frustrating? 0:16:55.000 --> 0:16:57.960 Yeah, what's also frustrating is that people telling me like, yo, 0:16:58.080 --> 0:16:58.880 video doesn't move. 0:16:59.160 --> 0:17:01.120 I'm like, what what are we talking about? 0:17:01.240 --> 0:17:02.480 Like yeah, because. 0:17:02.280 --> 0:17:05.159 Everybody everybody's looking to trade, they're not looking to and 0:17:05.520 --> 0:17:07.240 that shit breaks my heart because it's going you're gonna 0:17:07.240 --> 0:17:11.240 see me and like in one of them other countries, 0:17:11.440 --> 0:17:13.720 what another place? But no, I should have listened. You 0:17:13.760 --> 0:17:17.760 should have, you should have. It doesn't move for the 0:17:17.800 --> 0:17:20.959 gambler in you. If you have some capital in it. 0:17:21.359 --> 0:17:23.720 Fifty grand, one hundred grand, two hundred grand. 0:17:24.000 --> 0:17:28.240 It is a beacon of safety for sure. What's the 0:17:28.240 --> 0:17:30.920 outlook for TSM? 0:17:31.280 --> 0:17:34.960 TSM is, for those not to know, the number one 0:17:35.640 --> 0:17:41.320 UH manufacturer and packaging company for semiconductors in the world. 0:17:41.760 --> 0:17:44.560 I think at this point did they produce eighty to 0:17:44.720 --> 0:17:48.320 ninety percent of the world semi conductors? And so when 0:17:48.359 --> 0:17:50.159 I talk about my favorite companies, this is at the 0:17:50.160 --> 0:17:51.640 top of the list when we talk about the most 0:17:51.640 --> 0:17:53.600 important companies, obviously at. 0:17:53.480 --> 0:17:54.200 The top of the list. 0:17:54.560 --> 0:17:57.680 They report on the sixteenth, which I believe is next Wednesday, 0:17:58.520 --> 0:18:01.320 earlier expectations. Right now they're looking at a fifty percent 0:18:01.400 --> 0:18:06.399 jump in revenue, which is absolutely ridiculous. The future guidance 0:18:06.440 --> 0:18:08.520 looks like they're going to increase it as well. I 0:18:08.520 --> 0:18:11.320 think TSM and I like that it reports early. It 0:18:11.359 --> 0:18:16.560 reports before everybody, because it will tell us are they 0:18:16.560 --> 0:18:20.960 getting orders from in Video? How high last quarter? They 0:18:20.960 --> 0:18:23.600 said in Video's orders were in such high demand that 0:18:23.600 --> 0:18:26.760 they passed Apple as their number one client, right, so 0:18:26.880 --> 0:18:30.680 much so that TSM said, Okay, we've got so much 0:18:30.760 --> 0:18:33.239 demand that we might have to offshoot some of our 0:18:33.280 --> 0:18:34.879 demand to some of these companies, which is why we 0:18:34.920 --> 0:18:37.000 talked about AMCRE as a company that's going to be 0:18:37.000 --> 0:18:39.520 a beneficiary of that. There's another company, but South Korean 0:18:39.560 --> 0:18:43.400 one ACI that we can't directly invest in, So we'll 0:18:43.400 --> 0:18:46.520 go with AMCRE for now. But that demand story will 0:18:46.560 --> 0:18:49.960 be on the forefront. Is in Vidio still having that 0:18:50.000 --> 0:18:53.120 same level demand as Apple's demand, is the appetite still 0:18:53.160 --> 0:18:56.960 there is AMD's demand. So there AMD is, like I mean, 0:18:57.040 --> 0:19:01.639 we was up twenty dollars today over I think it 0:19:01.680 --> 0:19:02.800 was at five to seventy today. 0:19:03.280 --> 0:19:04.719 What does that demand story look like? 0:19:05.560 --> 0:19:08.359 You're going to see the AI hyperscalers come to the 0:19:08.400 --> 0:19:13.200 forefront and if TSM is able to say, hey, demand 0:19:13.280 --> 0:19:17.520 has peaked again, now we're going to see another start 0:19:18.040 --> 0:19:21.199 of ticking up of that semi conductor space in the 0:19:21.240 --> 0:19:25.359 technology space because capax hasn't slowed down, In fact, it's 0:19:25.359 --> 0:19:30.000 getting increased. The demand hasn't slowed down. Have companies pulled back, yeah, 0:19:30.000 --> 0:19:31.040 have people taken profits? 0:19:31.119 --> 0:19:35.200 Yeah? You know, my favorite question, has a story changed. 0:19:36.560 --> 0:19:41.040 No, TSM should be at six hundred and eighteen months, 0:19:41.560 --> 0:19:44.960 and we can argue if it was an American born 0:19:45.040 --> 0:19:46.800 and bred, it probably. 0:19:46.400 --> 0:19:47.200 Be number one. 0:19:47.840 --> 0:19:51.040 We're getting closer for real like. 0:19:51.640 --> 0:19:55.879 Hole for the long term and before we grap I 0:19:55.880 --> 0:19:56.879