Chamath Palihapitiya
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You go and you present a CapEx plan to the Public Utilities Commission.
You go and you present a CapEx plan to the Public Utilities Commission.
That's effectively your budget that says, here are the lines I'm going to upgrade, here are the generators I'm going to upgrade.
That's effectively your budget that says, here are the lines I'm going to upgrade, here are the generators I'm going to upgrade.
Independent of data centers, the reality is the draw, the electricity consumption of individual Americans is going up because we have more devices, we have cars, we have all of these other things.
Independent of data centers, the reality is the draw, the electricity consumption of individual Americans is going up because we have more devices, we have cars, we have all of these other things.
So what we also have to do is we have to look at how utilities' business model actually incentivizes them to increase prices by
So what we also have to do is we have to look at how utilities' business model actually incentivizes them to increase prices by
making all kinds of investments.
making all kinds of investments.
So we have to do a good job of making sure we hold everybody accountable.
So we have to do a good job of making sure we hold everybody accountable.
Because otherwise, what you could see is that the data centers taking on the burden for themselves, but price is still continuing to escalate.
Because otherwise, what you could see is that the data centers taking on the burden for themselves, but price is still continuing to escalate.
Because a utility says, I need to spend a billion dollars this year to upgrade my infrastructure.
Because a utility says, I need to spend a billion dollars this year to upgrade my infrastructure.
And what that allows them to do is take that billion dollars and essentially invest it for a return.
And what that allows them to do is take that billion dollars and essentially invest it for a return.
That's the business model of utility.
That's the business model of utility.