Bill Gurley

And the pretenders left town.

When the internet bubble burst, there were companies that were consumer were called B2C and enterprise was a B2B.

And there was a joke that that became back to consulting and back to banking because people left Silicon Valley when the money wasn't easy.

And the opportunists I don't love, I don't think they're in it for the right reasons.

And they tend to over-promote, over-raise capital.

over-participate in secondaries and leave situations that can crash and burn.

I don't love that.

It's a part of the world when you're dealing with it at this speed.

So if it corrected, people would look for opportunities.

One of the things...

that causes this situation is I think everyone has studied history.

Everyone knows about compounding effects.

Everyone knows about network effects.

Everyone studied cycles.

They've seen boom and bust.

And you remember how long the stock market was down during the original COVID correction?

Three weeks or something?

And then people started buying the opposite side.

So I suspect that the conviction in AI is high enough that even if we were to have a six-month period where people thought AI was overstated, it would start rebounding very quickly.

It's funny, you just provoked something in my brain that is not the question you asked, but... That's fine.