Asit Sharma

Part of that was fracking.

That was a stopgap in our economy that then let incremental GDP growth.

A little bit of growth beyond the core happened, and then we got to the next

revolution, and then the next.

Maybe two or three revolutions out from that time period.

Here we are at AI.

This one feels a little different, though.

I've seen figures as high as 90% of the incremental change in GDP.

That 90% of growth could be due to the AI build-out.

Now, in some ways, this is fine for the economy because

There are businesses out there that specialize in construction and electrical wiring, and that's great for the economy.

But the flip side of that, if we all become so much more productive, it is scary because you don't really see a through line to people having replacement income.

So if my job gets taken away by AI, maybe it will one day.

Maybe the three of us, our avatars, will be conducting this show in a few years.

What will we be doing?

I mean, hopefully the three of us will be together having a beer somewhere, but I don't know.

It's iffy.

Well, Travis, for the large part, the companies that you mentioned use their cash flow and their balance sheets.

Maybe not Shopify's more of a cash flow story, but many of those retailers use their resources to invest in distribution, to invest in logistics.

that enabled them to take advantage of this explosion in online commerce.