Jason Calacanis

It is hard balancing four interviewers at the same time.

Did you have an iPhone moment?

Yeah, when you used it, was it like having an iPhone for the first time?

Yeah.

I think this is a very... Job said.

This story, just going back to the earlier question, so putting on...

the CFO hat, help us understand the capital allocation model that you use.

Because a lot of businesses over the last decade, two decades that have kind of been these outsized returners have found some unique way to deploy capital at a higher ROC than anyone else.

And then you end up plowing all your capital into that higher ROC bucket.

What is that for you guys and how do you think about that portfolio approach to having more of these kind of big returner shots and is there an engine where that gets better over time?

So how are you making the compute need forecast multiple years out?

Yep.

accounting for all of the architectural and model advancements that are happening where call it value or utility per unit of power is going up.

And help us understand how you kind of estimate that given that there's a lot of technology development going on that has a high kind of variance to it.

No model improvement in that.

So that's just the chip.

So why $122 billion?

Does it take you to 2031, 2032?

How do you get the calculus on the capital needs as you do that modeling?

Maybe even more specific.