Robert Armstrong

I mean, the amount of money... The good news is...

that the market is beginning to sort of understand that possibility.

So that one and a half trillion dollars that they said they were going to spend over time, I mean, immediately you look at Oracle and the market says, it's real, it's great.

And you see Oracle shoot up, it goes crazy.

Eventually they started to discount that one and a half trillion because they realized it's less realistic than we thought.

But on top of that, I think that OpenAI has become such a symbol

of the AI story.

I mean, the gains, the biggest moment in the past five years is the launch of ChatGPT.

And that was the seminal moment where we kind of have to measure what has happened since then.

And since then, 75% of the gains in the stock market have been AI.

It's all AI related.

So I think because of the power of that story,

If you have a blow up similar to what we saw with FTX, I think it might be another good example.

That was sort of what anchored the whole crypto story.

If that just comes off the rails, I think that really shakes people's confidence.

And eventually I think that would happen.

I think you see the crash and then eventually people would realize, actually, this doesn't mean it's over.

Moving on.

Interesting prediction here.

will US stocks trail the rest of the developed world?