Rob Armstrong

Maybe it'll do the same with Anthropic or OpenAI.

I think there are many ways people can make money out of this, yeah.

And I have to admit, the big difference, of course, even with the railway boom of the 19th century, is that there is an awful lot of debt issuance happening, but by vastly profitable companies.

And these tech companies still print money.

So even if they lose every single dollar they are now putting into AI, these companies aren't, for the most part, going to go bust, which makes me slightly less worried than maybe I would have been if I'd been a financial journalist in 1872 looking at the railway boom.

I'm tempted to answer like Ryan Cohen did, GameStop CEO, yesterday in an interview where he said that we will see.

This is not allowed on the Unhedged podcast.

No, unfortunately, we are unhedged here.

Yeah, yeah.

The Iran war feels like it's now on the cusp to be sort of an epochal thing.

If we do basically large parts of the world run out of oil...

then suddenly I'm willing to say this will go from something that was a defining thing for 2026 as being something I might define a longer time period.

AI, I think, definitely is in the mix.

I'm going to be short Jamie's deal to try and take over eBay.

That is the mouse eating the lion and it is not going to work.

It is a mouse pumped full of medical cocaine trying to eat a massive elephant with a highly confident letter from a Canadian investment bank.

This deal is not going to happen, but it's going to be highly entertaining for us to follow it.

Katie, it is a beautiful, sunny, cool day here in New York, a perfect spring day.

And I know markets don't care about our listeners' feelings, but I do.

We here at the Unhedged podcast, we really care.