Brad Gerstner

There's no dark GPUs in the world today.

The tokens are being consumed.

Every consumer in the world wants answers.

They don't want to use 10 blue links.

Every enterprise wants to deploy this to make their enterprise better.

National sovereigns want to do this in order to advance their military and other things.

I want to come back to this very point.

We should be on the lookout for sham transactions.

When you have moments of excitement like this, they of course will lead to somebody on the edge doing stuff that is a sham.

What's a sham?

There's no economic substance.

There's no end buyer for your product.

So I call up Saks.

I say, Saks, I've got a bunch of inventory.

Nobody wants to buy it.

I'm going to wire you a billion dollars, buy a billion dollars of my product.

I'll post it to revenue and we're good to go.

It doesn't cost him anything and I get to book a billion in revenue.

Clearly a sham, clearly illegal, not at all what's occurring in the case with NVIDIA.

Just put it in perspective.