So here you go. Here's the scary chart. Here's the oil chart. Oil is the same price as it was in 2007, despite the fact that disposable income and everything is through the roof. This is what's scaring you. Those two things. I showed you facts about the economy, and I showed you facts about agents and the acceleration of AI. Those are facts. Those are not guesses. So there's a bear market within a bull market. lowers the barriers to entry, AI reduces the cost to start and compute, faster innovation cycles, moats erode more quickly, margin pressure, shorter duration, multiple compress. So multiples
Oil is the same price as it was in 2007, despite the fact that disposable income and everything is through the roof.