Azeem Azhar

off my desk.

And so when I looked at what happened in the markets this week, this was an overreaction.

I mean, the market is always right.

So let's just sort of get this right.

Market is never wrong.

You can never bet against the market.

They will always stay solvent longer than you will.

However, with that said, they didn't get...

the demand growth.

They didn't get the way in which the demand is outstripping supply.

They didn't get how much more we were going to demand as these models get better.

I mean, the moment a model can work for 20 hours, I can tell you, I mean, I will be running hundreds of these things because I've got a lot of work to get through and I'll be, you know, saying, Hannah, how many models are you running?

I think I've probably sent that to you already.

We just introduced a

If you don't max out your clawed usage at least once a month, you lose clawed maxes a tier.

You've got to be maxing these things out because they're so powerful.

And I think that once that realization moves into Main Street, which it will in the next two years, or parts of Main Street, we will just see the usage grow and grow.

There's something that the market has done, which reflects the work that we did, which is that if you look at the open AI stack of affiliated public companies, so the oracles and so on, they have really underperformed relative to the Google anthropic stack of affiliated public companies.

And there's been a divergence since, I think it was really when Sam talked about needing a trillion dollars or something, which he may have done last summer.

I found it really helpful that we had gone and done this x-ray of this company because it helped me see what I think some of the choices are.