Ryan Miller

speaker
4,581 appearances 12 recordings 2 series first heard Mar 2026 last heard 10 Aug

Ryan Miller’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months
4 · Jul OctJan 26AprJulnow

Recordings per month over the last 12 months — 12 in all, peaking in Jul 2026 with 4.

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They owned the water rights, they owned the supply stores.
They financed and built the railroads that carried the miners and the gold in and out.
The miners took all the risk and got lottery type odds.
It was the infrastructure players who took the boring, contracted, repeatable cash flow.
They're the ones who won decisively.
Now, fast forward 150 years to the dot com bubble, 1999 to 2000.
Everybody remembers pets.com, web van blowing up.
The equity got literally vaporized.
Trillions in paper wealth just gone.
But ask yourself, who actually survived through all of that?
The companies that laid the fiber, the data infrastructure, the picks and shovels of the internet itself.
A lot of that fiber got laid during that bubble and is still carrying traffic and is still generating returns 25 years later, long, long after the hype names became trivia questions.
It's the same pattern every single time.
The bubble lives in the equity, and the durable money lives in the infrastructure.
And right now in AI, I think.
Can see that exact same pattern repeating right in front of our eyes.
And you have a chance today to be on the right side instead of the wrong one.
So let's get specific because I don't deal in hypotheticals or vague inspiration.
I deal in frameworks that you can actually use.
So I'm gonna walk you through what I call the AI capital stack.
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