Joe Rennison

You're trying to profit, right?

So if you're paying more for something, you think it's going to make more money over the long term.

And while some of these numbers look bananas on a piece of paper...

NVIDIA has met a lot of these targets in recent years.

This is a $500 billion company in 2021 that is now over $4 trillion.

And so when NVIDIA hit a trillion dollars, do you start saying, well, it looks a bit overvalued?

When Nvidia hits $2 trillion, do you think it's overvalued?

It's $4 trillion.

Is it overvalued?

Or is it actually worth $8 trillion?

I don't know.

And I don't think a lot of investors know for sure either.

With almost any big fundamental change, whether it's crypto and Bitcoin, or whether it's artificial intelligence, or whether it's the internet, these sorts of technologies, to some extent at least, when you don't have the full set of numbers you need to value a company, it comes down to belief.

Yeah, and the risk of being uninvested in this environment is, like, you can fall behind very, very quickly as an investor.

Maybe it's worth sort of looking back to the dot-com period, the internet revolution, the computing revolution that kind of taken hold earlier.

Those things are still with us.

The technologies are still here.

Artificial intelligence isn't going to be going away anytime soon.

The difference is which companies are going to actually still be around in five or ten years.

Is it going to be a case of one of the many companies that went bust in 2000, 2001?