Jason Calacanis

in the US and it powers Social Security payments.

in the US and it powers Social Security payments.

85% of all Cold War code runs on IBM machines.

85% of all Cold War code runs on IBM machines.

So IBM decided they would tank 13% on Monday, their worst day since $2,031 billion in market cap losses.

So IBM decided they would tank 13% on Monday, their worst day since $2,031 billion in market cap losses.

So let's stop here before I get into the fanfiction piece.

So let's stop here before I get into the fanfiction piece.

What's your take here of what's happening in the market, Shamath?

What's your take here of what's happening in the market, Shamath?

Is this simply people are looking for an excuse to trim their positions because things have been top-ticking, all-time highs, and people are just looking for an excuse?

Is this simply people are looking for an excuse to trim their positions because things have been top-ticking, all-time highs, and people are just looking for an excuse?

Or is this reality?

Or is this reality?

Is this the go-forward reality that AI is going to compress these kind of stocks because it solves a lot of problems?

Is this the go-forward reality that AI is going to compress these kind of stocks because it solves a lot of problems?

Got it, okay.

Got it, okay.

So the second part of this story, Friedberg and Sachs, is that a sub-stack post

So the second part of this story, Friedberg and Sachs, is that a sub-stack post