Megyn Kelly

in how they report revenue.

And they have every right to.

So let me be clear, they're not a public company, they're not subject to public reporting standards.

They publish what they feel like they should publish.

And frankly, they publish the minimum that they can get away with to their investors.

It is very hard to really know underneath the hood

what that revenue means.

Meaning, is it actually recurring where you and I are on the long-term contract and we have to pay this?

Is it one-time revenue?

Is it coming from a handful of folks?

Is it coming from a long tail?

What is true is that their revenue is going absolutely parabolic.

Again, because the quality of their business is undeniable.

The quality of what they've built is undeniable.

And so they've had enormous success.

I can't speak to the actual numbers because there's a level of opacity that for a person like me that- Well, let me get at it a different way.

Because it seems to me the level of investment in companies like Anthropic and beyond has, I don't know, triple, quadruple.

We're talking about hundreds of- It's 200 basis points of GDP now.

It's five, six, seven, $800 billion a year.

That's insane.