Patrick O'Shaughnessy

Obviously, you talked about some of the differences, but what's most similar between the two countries?

What would be something that you would have put in the book if the book was designed to be a bit more like out there, speculative, unhinged?

What was on the cutting room floor that you would talk about with your friends over beers more than you'd put it in a New York Times bestselling book?

What feels like the very bleeding edge frontier if I were to take a month and travel around China and maybe you could pick like the four cities I would go visit to learn the most and most see the bleeding edge frontier of everything you just described?

What does that feel like today that people might not fully appreciate?

Of all these places or in a different city, if you were to send an envoy of U.S.

technology entrepreneurs somewhere where when they emerged from this trip, they would be the most inspired to come back and do things differently than maybe than they were planning to, where would you send them?

Can you compare and contrast the work ethics of the two countries?

I'm especially curious at the very highest end, if you took America's most productive people, maybe in the technology sector, working all the time to build AI companies or whatever, and compared it to a similar set in China, how the two compare and contrast, especially at the very high end?

I'd love to ask some investing questions as an investing audience.

If I were to shrink down the investing debate about China to a single common debate, it would be around ByteDance because it's a company that produces crazy amounts of free cash flow.

Its equity trades at a tiny fraction of that free cash flow in terms of a multiple than it would if it would just take the exact same financials and put it in America.

It might be, I don't know, 10 times more valuable or something like this.

And so people use this as an example of like, what do you think about ByteDance?

And when they're really asking, what do you think about the opportunity to invest in China?

And maybe this is the right time to talk about this sort of kneecapping that happened several years ago around some of the Chinese internet giants, what happened and why, and what that tells us about the party and beyond.

But I'd love just your general framing on how to think about

these companies, which sound really interesting and fantastic, which have produced lots of free cash flow in some cases, as an investment opportunity or not, or it just belongs in like the too hard pile for American investors.

By dense trades for 10 times your cash flow.

Yeah.