Ben Horowitz

You know, concentrations of power historically have been the worst thing for humanity.

And so I think that that would be the thing to be scared of.

So I think the fear could cause actually a worse problem than what people fear.

All right.

Thank you.

America's got to rebuild its entire infrastructure like right now.

We don't have enough rare earth minerals.

We don't have enough electricity.

We don't have enough manufacturing capacity.

NVIDIA will make enough chips, but then we won't have enough memory.

Almost everything is a bottleneck.

The history of technology is things have always gotten better.

Humans are kind of unbelievable in their ability to come up with new things that they need.

Yeah.

So the financial markets hate them.

Yeah, well, I think the first thing you have to recognize in a kind of huge dislocation like this is...

Some very basic axiomatic-like laws of physics are different.

And the two that are really different with AI compared to how companies have been built in kind of technology forever is, one, it used to be very well known that you cannot throw money at the problem.

So, for example—

If I had a product and I was two years behind, I could not hire 1,000 engineers and catch my competitor.