Jason Calacanis

And the reason is, is that this stuff is very complicated and very, very hard.

I think you've probably heard this famous story where Jensen was like, yeah, he was the one that figured out this one thing that nobody else could figure out so that you could strip a bunch of racks and drive a bunch of East West traffic and make the whole thing work together.

So I suspect what happens is next year, it's probably 40, 45 billion.

And then the year after that, it probably doubles again.

So now I'm buying it at 20 times revenue.

And you would say, well, why can you buy a company like this on revenue versus earnings and cash flow?

And I think the reason is because what the revenue does is it gives him the operating leverage to go and invest in all of these other businesses.

that ultimately consolidate his differentiation and his competitive mode.

Because what he creates is a capital mode that then accelerates a technology mode that then accelerates an execution and a learning mode.

And that flywheel, when it starts to spin very quickly, and you would say, hey, hold on a second, it's probably spinning quickly now.

I would say we're at the beginning of the beginning.

Because he's, again, he still has all these disparate assets.

I still don't like the fact that Tesla's over here.

And as I've told you, that will get merged in.

And now you have this incredible corpus of physical capability, movement of all kinds, X, Y, and Z, right?

You have learning capability, you have infrastructure, you have all the connectivity.

That thing will look very cheap, I think, in a few years.

And he has this one thing that nobody else, if you look at the big CEOs, who steps on stage where you're always curious, okay, what has he got up his sleeve?

You know, the Steve Jobs, oh, and one more thing.

This is the only guy at the scale of civilizational out of left field s**t.