Jason Hall

I think it's just too early for that.

But I think what we are going to see is, we're going to see all of the big players continue to spend a lot of money with all of these other potential solutions to try to figure it out.

But I think we're still a few years away before we see a clear alternative answer to CUDA and Nvidia.

Yeah, so the way I think about this idea of these sorts of businesses and thinking about ethics and how businesses treat all of the different stakeholders is really focusing on incentives for management.

Because that tells you a lot about how businesses tend to do over the long term.

And one of the things Schneider's always done pretty well is they...

Things like their CEO, part of his compensation is tied to organic growth, not just buying revenue.

HP is a great example of corporate mergers that destroyed value and didn't create value, but management got paid because it made the revenue line go bigger.

Doing things that are tied to creating value is important.

If you're focused on that as a manager,

you're going to do a lot of creating value for more of your stakeholders as well.

I truly believe that.

The thing about Snyder that's compelling to me as a business in this moment, we were just talking about AI.

How is AI affecting regular people?

It's making energy costs skyrocket.

It's putting pressure on grids and developed countries in very real material ways.

Schneider Electric, their business is all about efficiency and automation at industrial scale.

And they're very, very good at that.

They've been good at that for a long time.

And as a result of focusing on that and compensating management in the right ways, even though this is an industrial manufacturer and they do a lot of software and other things, it's still a price taker business.