Ed Ludlow

Yes.

You know, just under 3%, 2.7%.

Do we really know what that is?

And is it AI?

Broadly, people want to see and understand how AI impacts workforce.

And more recently, maybe inflation.

So if we go back to the 90s and what Greenspan saw in productivity gains contributing to economic growth,

there was a consideration around both of those things.

You said that it's not the playbook to go back to what happened in the 90s and apply today, but what do you see in those things?

Is it possible that AI is driving productivity gains resulting in economic growth, but without the inflation?

I'm going to jump ahead to data center.

I've been saving it to the end, but it's highly relevant to San Jose, the build out of data center.

Very recently, the CEO of PG&E, Patty Poppy, came on the program and made the argument that

It's possible that the data center build out within PG&E's jurisdiction actually brings down wholesale electricity prices because the hyperscalers take on the capital burden.

And they are buyers in aggregate of electricity.

But many people, your constituents in the 12th district, will find it hard to see that argument playing out.

Go down as far as it will be disinflationary.

The other thing I wanted to ask you through the lens of constituents of the 12th District is one reason you might focus on productivity is there is a direct read-through to GDP growth and other data sets that you can look at.

But the anxiety in the real world is, well, an AI tool can make me more productive or it can displace me altogether.

Where do you see that tension in the economy right now?