Brian Stewart

And so, you know, it kind of can become a, you know, buster.

boom or bust situation when you have a situation like that.

I think we're going to take that as like a metaphor for the market as a whole or analogy.

You have the huge amounts of capex spending that are going on, especially at the hyperscaler level.

And, you know, there does need to be a payoff eventually from that investment.

You put all this money in like you can't just I mean, I guess you could just sort of write it off.

So, you know,

There's just this worry about the table stakes to play in the AI game are just so high at this point that it's not clear that everybody can play at the table.

Yeah, I mean, I think that's the lesson of this week, and I think I think you're exactly right to sort of underline that as sort of the data point.

for next week.

Like, I just think that that's probably going to be the pivot of trading generally is what does Nvidia say and how does the market react to what Nvidia says?

Yeah, no, I agree with that.

I mean, yeah, you're sort of dealing with the reality and the perception of reality.

And that's always a tension that comes up in stock trading, right?

But I do think there are times when that becomes more apparent or at least more primed to have a material impact on stock prices.

And we might be entering one of those situations.

Just as we were starting to record, the Supreme Court ruled that the bulk of Trump's tariffs are illegal under the emergency economic act that he used to do.

I don't remember the name of the act off the top of my head.

Exactly right.

It's like the IEE something P. Anyway.