Bill Gurley

The senators and House members are hearing from their constituent CEOs that they don't like these tariffs. And remember, most important to the president, he wants to get this reconciliation package passed, which he calls a big, beautiful bill. He wants to get this thing passed, which puts in place no taxes on tips and the permanency of the tax cuts, which he passed in his first administration.

The senators and House members are hearing from their constituent CEOs that they don't like these tariffs. And remember, most important to the president, he wants to get this reconciliation package passed, which he calls a big, beautiful bill. He wants to get this thing passed, which puts in place no taxes on tips and the permanency of the tax cuts, which he passed in his first administration.

He can't afford to lose a single Republican vote. And so I think that that also is going to guide them a little bit more to the center. And that's what, you know, we'll see whether the market believes that. Certainly didn't believe it after hours today. We're going to get a little bit more positive on the companies we like the best because we think some of this fear is now getting priced in.

He can't afford to lose a single Republican vote. And so I think that that also is going to guide them a little bit more to the center. And that's what, you know, we'll see whether the market believes that. Certainly didn't believe it after hours today. We're going to get a little bit more positive on the companies we like the best because we think some of this fear is now getting priced in.

He can't afford to lose a single Republican vote. And so I think that that also is going to guide them a little bit more to the center. And that's what, you know, we'll see whether the market believes that. Certainly didn't believe it after hours today. We're going to get a little bit more positive on the companies we like the best because we think some of this fear is now getting priced in.

Yeah, I think we're still in the fog of war, certainly. But I will be looking at, do these exemptions on things like semiconductors and pharmaceuticals hold? Are we seeing the country-by-country renegotiation on some of these things? And probably most importantly, Bill, it's really about China. China is the second largest economic power in the world.

Yeah, I think we're still in the fog of war, certainly. But I will be looking at, do these exemptions on things like semiconductors and pharmaceuticals hold? Are we seeing the country-by-country renegotiation on some of these things? And probably most importantly, Bill, it's really about China. China is the second largest economic power in the world.

Yeah, I think we're still in the fog of war, certainly. But I will be looking at, do these exemptions on things like semiconductors and pharmaceuticals hold? Are we seeing the country-by-country renegotiation on some of these things? And probably most importantly, Bill, it's really about China. China is the second largest economic power in the world.

It scares me how big the tariffs are that we are suggesting are going to go in place on China. And I think it's imminent that he and Xi are going to have to talk and get a big trade deal done. And so those are the things I'm going to be watching for. I don't think I see any clearing event here for at least another 30 to 60 days. But remember...

It scares me how big the tariffs are that we are suggesting are going to go in place on China. And I think it's imminent that he and Xi are going to have to talk and get a big trade deal done. And so those are the things I'm going to be watching for. I don't think I see any clearing event here for at least another 30 to 60 days. But remember...

It scares me how big the tariffs are that we are suggesting are going to go in place on China. And I think it's imminent that he and Xi are going to have to talk and get a big trade deal done. And so those are the things I'm going to be watching for. I don't think I see any clearing event here for at least another 30 to 60 days. But remember...

The best opportunities to buy something are when people are a little fearful. So you may have to just take a bit of a leap of faith on this one if you want to purchase at the best prices.

The best opportunities to buy something are when people are a little fearful. So you may have to just take a bit of a leap of faith on this one if you want to purchase at the best prices.

The best opportunities to buy something are when people are a little fearful. So you may have to just take a bit of a leap of faith on this one if you want to purchase at the best prices.

You know, another thing that we heard a lot about this week, Bill, speaking of China, is, you know, some developments in Chinese open source and some developments on the US open source front, particularly with respect to these frontier models.

You know, another thing that we heard a lot about this week, Bill, speaking of China, is, you know, some developments in Chinese open source and some developments on the US open source front, particularly with respect to these frontier models.

You know, another thing that we heard a lot about this week, Bill, speaking of China, is, you know, some developments in Chinese open source and some developments on the US open source front, particularly with respect to these frontier models.

You have a lot of, I think, understanding about kind of the history in China around open sources, around the history in the United States around open source. So help us unpack, if you will, What do you think strategically is going on in China with respect to these open source models? I've seen some people tweet that maybe that DeepSeek was forced into open source by Xi.

You have a lot of, I think, understanding about kind of the history in China around open sources, around the history in the United States around open source. So help us unpack, if you will, What do you think strategically is going on in China with respect to these open source models? I've seen some people tweet that maybe that DeepSeek was forced into open source by Xi.

You have a lot of, I think, understanding about kind of the history in China around open sources, around the history in the United States around open source. So help us unpack, if you will, What do you think strategically is going on in China with respect to these open source models? I've seen some people tweet that maybe that DeepSeek was forced into open source by Xi.