Carl

Yes, we have a question from Eleanor in San Francisco who asks, why does a stock drop sometimes even after strong earnings?

Yes, this is something fundamental, but often forgotten because markets don't react to news.

They react to expectations.

If investors were hoping for exceptional results, merely good can disappoint.

Prices reflect what people thought would happen, not what just happened.

That's why buy the rumor, sell the news moves are so common.

It feels illogical, but it's expectation math at work.

So in terms of China, there's always been the conversation about perception of AI.

And I think like we in the West, I don't know, there's so many studies about the perception that we have here that is AI going to be positive or negative for economy, personal lives.

And I think we have, there's higher levels of pessimism

Versus in China, there's higher levels of this is going to be good for a society.

Yes.

So if you have that, plus there, I was listening to the All In podcast and they were talking about, no, no, it wasn't the All In podcast.

It was Kevin O'Leary talking about just in terms of government, right?

You have like, we're going to build a data center here.

There is no stopping in China.

Okay.

And then here, and then here, and here, and then here, right?

So that's happening.

And if you have that, and their models are,