Jordi Visser

And I think that's what we're starting to see because the companies that are at 75%, they're either coding companies, they're being disrupted by AI because software is now ubiquitous, or they're the hyperscalers

and they're having to spend for more power.

So I do think we're at a situation where everything is turning on its head, and 10% to me is not out of the question as a potential number, but I think it's because GDP as a calculation does not take into account intangibles.

And I think when they go back and they re-look at this, they're like, things were going a lot faster than we thought.

yeah and I think we're starting to see it and you know I'm I'm writing about this a lot the the Outlook paper I did for this year was all on the physical upgrade of the economy but

I always try to give people things they can listen to.

It's very hard to say, hey, listen to Moonshots.

There's a three-hour podcast with Elon Musk.

It's excellent, though.

It's fantastic.

And if you listen to it, forget about his conversations on Mars and his conversations on all the things you don't want to listen to.

He made a statement in there which is really going to impact the investments that will work this year.

And I'm going to talk a lot about this in the video over the weekend, but

He said, we've reached the physical limits for AI on the power side, and that power is the ultimate constraint.

He also said we have infinite demand for power, that we're at a point where the AI needs to get to AGI to get to all these things will never stop.

But

where we are now after two years of the leaders of the stock market being the data center names.

It wasn't just NVIDIA.

It was GE, Vernova.

It was everybody who was involved in the construction of the data center, the transformer suppliers, the Siemens Energy, the Mitsubishi.