Larry McDonald

One of the guys at the dinner was really close friends with Larry.

And if you look at what Larry Ellison just did, he essentially blew up his company.

The stock's 50% off because Zuck, it's like the Dr. Oppenheimer moment.

And they're all going after each other.

Everybody wants to be first at the AGI master.

Yeah.

And so what happened was is you had companies that were incredible cash cows for 20 years.

So everybody watching us right now has got these stocks in their 401ks.

And these companies have just flipped their business model to being cash cows to capital intensive businesses, cash burning businesses.

If you look at the cash, look at Meta.

They had 60, 70 billion of free cash flow.

That's going to get down to five.

Oracle had five.

30 billion positive, and now there were probably 10 to 15 negative.

Cash burning machines now trying to build that bomb first.

Once again, this is the birth of a narrative.

The first stage of the narrative was the big investors

buy them.

So that's why people were chasing Oracle, they were chasing Microsoft.

And that was in the phase where Wall Street was not intimidated by the cash burn.