Matthew Prince

Okay.

But I think there's something to that where we sort of stopped and said, okay, at a basic level, what do markets require?

Everyone says they require supply and demand.

That's not exactly accurate.

What they require is actually limited supply

And demand.

If you have infinite supply, like wherever we are all sitting, like we're breathing air, there's no market for air because air is plentiful.

If I go scuba diving, there's a market for air because there's no air down there.

So you actually need limited supply plus demand that's out there.

The good news is there's tons of demand.

All of the AI companies are trying to figure out how can they get as much data as possible.

And they're all trying to figure out how can they find the corner of the internet that nobody has gotten to before.

And what they're really trying to do is, if you think about it, what's the history of why did OpenAI start?

It was Elon and Sam trying to figure out how do they make sure that Google doesn't run away with the whole game.

Why did Anthropic start?

Because Dario spins out from OpenAI.

So again, it's the derivative of how do you compete with Google.

XAI, again, same thing.

Everyone is trying to catch Google, and Google has significantly more data than anyone else that's out there.

Every page that OpenAI sees on the internet, Google sees four.