Dan Dreyfus
speaker
166 appearances
3 recordings
2 series
first heard Jun 2026
last heard 12 Jun
Dan Dreyfus’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 3.
Appearances
You know, we had like LED lighting, smart HVAC, tinted windows, smart electronics.
And at the same time, as I said earlier, we were like, you know, ripping down all our power hungry infrastructure like aluminum smelters and moving over China.
So we had two decades of effectively no power demand.
And now we're just coming out of it and starting a technological cycle again where power demand is going to really start to explode from these sort of high 2% numbers you're seeing on the screen.
Now, I want to say something right now that is incredibly important.
We do not need AI demand to keep the power markets incredibly tight for the next 20 years.
AI demand just turbocharges.
That's all it does.
and it creates shortages, so just remember that.
Early in my career, I was on a panel with Sam Zell.
Interestingly, it was a panel on opportunities in Mongolia.
I was looking at a copper mine and he was looking at real estate.
There was one thing he said that stuck with me for the rest of my career, is he said, if you can buy
an asset, a hard asset, at below replacement cost for an asset that's going to be needed in the future where we're going to need to build new capacity of that asset, then you buy that asset at the discount to replacement cost, you hold it, and you sell it at a big premium to replacement cost when the market wakes up.
That's exactly what we did with equity office properties.
Sold it at the peak of the market, but bought it at a discount to replacement value.
Talon Energy is a power producer.
They have two gigawatts of nuclear power, and they've got six gigawatts of natural gas baseload power.
Today, in the stock market,
As a good speculation, you could purchase this company at a $25 billion enterprise value.
Showing 21–40 of 166 · page 2 of 9
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