David Sachs

They're saying it's mind blowing.

It's completely revolutionizing their industry.

So demand for tokens just increases and that increases the demand for this data center build out that we're seeing.

So I don't think it's going to stop anytime soon.

And just last year, this infrastructure build out added about two percent to the GDP growth rate.

And I think that's what helped propel us to this four to five percent growth rate.

And I think you're going to see something similar this year.

Yeah, I mean, I think the basic problem that we have is that, I mean, frankly, the states are going hog wild right now with regulation.

There's over 1,200 bills going through state legislatures right now.

I think it's very much a knee-jerk reaction.

I know there's a lot of fears and concerns about AI, but it seems like for every hypothetical concern, there's multiple state bills now to try and regulate that thing before we really know how it's going to play out.

And I think it would be

better to, I think since this technology is so new and the environment is so dynamic, I think it'd be better to spend a little bit more time studying how AI is actually being used and what risks are actually materializing before you over-regulate the thing.

But in any event, that's what we're seeing right now at the state level.

And I think that the president's been very consistent that it would be better to have one rule book, a single rule book at the federal level, lightweight federal standard.

I think this problem is only going to get more acute over time because, again, as you have 50 different states running in 50 different directions, the patchwork problem only gets more significant.

So in any event, this is something that we're going to work, I think, closely together on this year, which is to see if we can get enough consensus on a federal framework to enact a law.

Only Congress can ultimately cramp the states.

We understand that.

And, you know, as you know, it's very difficult to get a bill through Congress.