Mina Kimes

That said, just because something's a bubble doesn't mean it isn't transformative.

The railroads, the transcontinental railroads in the 19th century were four different bubbles that crashed the economy.

It was also transformative.

The dot-com boom, the fiber optic cable build-out was an enormous bubble, the famous dot-com bubble.

Internet also transformed the world.

My guess is that AI could absolutely fit into this category of something that is both bubblicious and also transformative.

And here's basically the way it would work according to Paul Kudrowski.

Paul basically says, look, AI is real.

The adoption is real.

The revenue is real.

Companies are paying for it.

Consumers are paying for it.

That's all real.

But this is not a question of if people are paying.

It's a question of scale.

Yeah, exactly.

That's my question.

The first fact you have to deal with with AI as a bubble is that $700 billion are being put into this thing every year by the hyperscalers.

That's meta and alphabet and open AI and all those things.

Again, that's two Apollo programs a year.