Jordi Visser

And I said to you, what's the probability of that person living for another 50 years?

And then I saw another person who was the same age but was physically fit.

And I asked you, what's the probability?

Now that person who's physically fit could die beforehand, but I view all public companies as being bloated, overweight people, late in age.

So the S&P 500 lifespan is down to like 15 years.

So when you go through like the hyperscalers, which I pick on right now, only one of them is from the 1980s, it's Microsoft.

The rest of them, Meta, Amazon, Google, I mean, you're talking less than 25 years.

I mean, maybe Amazon is 25, 27, I don't know.

But regardless, start as a book company is not the same right now.

But those are not old companies.

You've got a lot of companies like Corning that have been around in the 1800s.

So physical companies, very few have lasted.

So I don't think there'll be public companies.

Do I think somehow or another those companies might be...

Their shares might be traded, but this gets into it.

If 400 of the S&P 500 companies basically are no longer companies and the capital structure of the future is related to stable coins, Bitcoin, RWAs and NFTs.

Then what the other thing I'm talking about is you're talking about a world that doesn't exist anymore.

It's like saying, will there be phones with cords on them as opposed to smartphones?

The capital structure of the future will not be the same as capital structure today.

I had a conversation with the figure people and it forced me to get to know their business more.