Like everything in life becomes that. I just think for solving cancer, for solving the greatest problems in the world that... People are gonna need to get to space to do this We're getting there's gonna be high-level things that are gonna take these models and the problem is Anthropic and OpenAI are gonna own most of the compute going forward and if the compute matters that much Which it will because I still will keep saying and I hear this on the other side People still fight on like there's a bubble coming like we are so early in the demand side of tokens so early the coding agents didn't even exist a year ago so that just started the adoption that means for corporations we went through token maxing now we're going through okay we can't throw this much money at it we have to be more efficient with our thoughts while they're figuring out how to do that the models keep progressing and getting better and Vera Rubin's going to come out next year as Vera Rubin comes for the same amount of gigawatts you're getting more that well who owns most of that The really smart groups own most of that. So that's where OpenAI, Anthropic, but also Elon Musk. He owns a lot of it too. He's been buying as much Vera Rubin as he can. So I think we're going to get to a point as you move down the road that the open source is fine for the majority of tasks. 90% of them will be close to zero. But for the 10%, the total TAM of that 10% is going to continue to grow through adoption. And that's where Jevons Paradox actually matters because the cost of it and the efficiency will keep going. And that's really important for people when they think about investing because I will continue to say there are two themes that I care about right now. Agentic compute, so the AI infrastructure, and the financial guardrails. That's what I believe over the next one year will create the alpha. And if you look back over the last four years, the alpha has all been about AI.
Agentic compute, so the AI infrastructure, and the financial guardrails.