Jordi Visser

I want all retail to be in a position where their mindset is, once Opus 4.5 came out, the game started to change.

When OpenClock came out, the game changed.

If you go listen to Ben Horowitz on the Moonshots podcast, he literally said, when OpenClock came out, Silicon Valley changed their view.

When you hear that,

How does a software analyst or someone trading at home not adjust to Silicon Valley change their view on AI and the disruption that it would be when OpenClaw came out?

So 4.5, Andrej Karpathy writes about it.

Then you get to 4.6, but in between there, you have OpenClaw.

I think what people need to start to realize is

it's not some bear case for software.

It's a re-rating of that compression of time.

And I've been spending a lot of time talking to people that when time compresses a long duration asset, the probability of them being around changes.

And so private credit is an issue.

Private equity has been an issue.

Venture capital has been an issue.

I think you said something really important here for people there, because if you're going through software and you can find a company that you think will win with AI for whatever reason,

you're happy that they're all getting reset.

They're getting down to multiples that may not make sense based on their history, but they make sense based on a world of AI coming forward, compressed time.

But when things get to a 10 PE, they're discounting that they're losers, which means if you can find a company that you think will win, and this is why instead of saying every one of these companies will be fine, the reality is if you can find one, and I believe Palantir is one of them,

then that's fine, but Palantir has a multiple closer to 100.

Now their earnings are still growing for the enterprise at above 100.