Chamath

can indirectly or directly affect you.

The United States has energy independence.

It's an incredible situation.

What was interesting to me is if you look at Europe, they gutted a couple of their energy markets

And they essentially ceded control to a combination of very expensive imports and China.

They did that in markets like nuclear, where they just went out of it.

They did that in things like nat gas, where, again, we can debate, but where did Nord Stream 2 go?

We don't know.

And they did that in things like solar, where they just gutted all of the credits.

But what's interesting is they're starting to turn that around.

I think Italy just reintroduced

effectively what's called investment tax credits.

Spain just did as well.

Germany is restarting nuclear.

So if you just look at the last few months, just that change is incredibly important because our largest ally, Europe, should be fundamentally energy independent so that they preserve complete and total optionality like we do in how we respond to these situations.

That I think is a critical thing that is a positive outcome of what's happening.

And then the second, Jason, which I think is a huge question mark, and it builds on what Friedberg said before, the Middle Eastern states, specifically the UAE and Saudi, Qatar, Kuwait, they are our most important financing and banking partner in the future.

And I think we need to see a conclusive end to this war

because they need to be in a position to monetize these critical assets.

Because at the same time, if you see these big pools of demand start to become energy independent by either accelerating nuclear, but again, that's just problematic and slow, but frankly, they're just gonna ramp up solar.