Chamath Palihapitiya

So there's only so many share buybacks that these guys can do.

They approve 50, 60, 70, $80 billion in buybacks.

They approve 50, 60, 70, $80 billion in buybacks.

It just doesn't lift the stock price the same way it does when you actually show leadership in a product category.

It just doesn't lift the stock price the same way it does when you actually show leadership in a product category.

So to your point, if you're just gonna underwrite a decision, just look at the last three weeks of Google stock performance,

So to your point, if you're just gonna underwrite a decision, just look at the last three weeks of Google stock performance,

it basically doubled once we thought that Gemini was incredible.

it basically doubled once we thought that Gemini was incredible.

And so if you want to make Gemini even more incredible, just pour another billion users into it.

And so if you want to make Gemini even more incredible, just pour another billion users into it.

And if that costs you 50 billion, it's okay because you'll make a trillion in market cap.

And if that costs you 50 billion, it's okay because you'll make a trillion in market cap.

It's like a no brainer.

It's like a no brainer.

I think it's going to be just... By the way, the other thing is, if we're playing conspiracy theorists, I think the reason why Sam did those deals, to your point, he is a consummate, very talented dealmaker, is probably because he needed to continue to generate the type of momentum required to raise the quantum of capital that he needs.

I think it's going to be just... By the way, the other thing is, if we're playing conspiracy theorists, I think the reason why Sam did those deals, to your point, he is a consummate, very talented dealmaker, is probably because he needed to continue to generate the type of momentum required to raise the quantum of capital that he needs.

So if you're silent, it's much harder to raise $100 billion and you're shucking and jiving and you're just putting a lot of things out there that could convince people that there's a level of momentum that's worth underwriting at a much higher valuation.

So if you're silent, it's much harder to raise $100 billion and you're shucking and jiving and you're just putting a lot of things out there that could convince people that there's a level of momentum that's worth underwriting at a much higher valuation.

So you have to keep that in mind too.