Aidan Donnelly

And I think they'll be the big winners.

I was in the States last week and I met a couple of companies and one CEO put it very well to me.

He says, look, when you're talking about AI and all the companies that are making tokens and selling you tokens, he said, there's a finite price you can charge for a token.

So in a way, their per unit is capped.

He says, but if a company takes that token

and tries to deploy its power in their business, the upside potential for that company is actually infinite because, you know, the better they use the token, the more efficiently they use the token, the upside could be infinity, right?

So the question is, are you better off investing in the companies that deploy the technology or the ones that develop it?

You can argue that there's more upside in the ones that deploy it.

In terms of AI or in terms of SpaceX?

In terms of AI.

Look, I think you need to be cognizant of the valuation.

You need to be cognizant of avoiding stuff where there's an awful lot of froth after coming in and things like that.

And I think you need to look at it and go, you know what?

I have no problem with a company spending a lot of money on to generate internal growth in the business.

The question is, is it going to return growth?

Is it going to give me a return?

What's it going to be like?

Right.

And I think that's the key.

Right.