Rob Armstrong

So, you know, I saw some numbers from Morgan Stanley.

They think that the hyperscalers are going to spend maybe a trillion dollars on data centers by 2027.

But the railway boom, just in the US, just on the Bond-ish-ance.

there was around $5-6 billion worth of bonds issued.

And that doesn't sound like much, but if you scale it relative to the size of GDP at the time, because the US was a small economy, that's the equivalent of $10 trillion today.

So the railway boom, the bond issuance, and some of this was financed by stocks and government grants and so on, but largely by bonds, was around 10 times the size of today's AI.

Give us time, Robin.

No, no, exactly.

Fingers crossed we get there.

The week is young.

Well, you have to remember that the railway was considered a miraculous technology.

When it first arrived in the UK, people were worried that people would essentially disintegrate at speeds over 30 miles an hour.

People generally thought that humans weren't built for those kind of unimaginable speeds.

We'd just turn to dust or at the very least go mad at around 20, 25 miles per hour.

I mean, the U.S.

was the epicenter of it.

I mean, people went railway gaga everywhere in the world.

And there were railway booms and busts multiple over the 19th century.

But the U.S.

discovered, because of its scale, right?