Jason Calacanis

That being said, it's technically possible.

I think he will be the first one to figure it out.

But I'll just take a much more pedestrian take, which is, okay, you're sitting here.

And if I'm asking myself, Jamath, how do I underwrite SpaceX at 2 trillion?

Here's the basic math that I would do.

Well, last year it did 18, $19 billion.

It'll probably do 25 to 30 this year.

Okay, so I'm buying this thing

at a fairly costly premium, right?

So what am I buying?

Well, I'm buying probably the most important internet infrastructure project that's happened since the internet itself, that's going to scale to hundreds of millions of users.

And the reason that's going to scale to hundreds of millions of users is, it's just very useful, and it's just going to become cheaper and cheaper and cheaper.

So that's number one, I'm buying a delivery infrastructure.

But I think over time,

GDP plus 10, GDP plus 15, kind of a grower.

So good business, valuable business, but it's the underlying platform that allows everything else to happen.

And then I'm buying an AI business, which will be at the top level, the apps, but at the bottom layer, all the compute capability.

And I think when you scale that out, like, why is Colossus so valuable to anthropic?

Maybe that's like a good question to ask.

It's because if you look at who's actually capable of delivering a gigawatt data center, these guys are the closest, like an actual gigawatt.