way. And it was fine when it was just Nvidia for most of this year, but it has spread to the entire AI trade, and this is why when I said back the fireworks show is over, this is directly what it was referenced to. You will never go through what you went through in the first quarter again, ever again in public stocks, ever. As far as I'm concerned, we have destroyed terminal value. That terminal value means that any company's earnings past 3 years, we have no idea whether they're going to survive or not.
And it was fine when it was just Nvidia for most of this year, but it has spread to the entire AI trade, and this is why when I said back the fireworks show is over, this is directly what it was referenced to.