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.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 12 in all, peaking in Jul 2026 with 4.
Appearances
And that gap, that's the opportunity.
Then there's rung two: private credit and mes financing.
This is the capital that actual financing happens in the build-out, funding the developers and the operators who are putting up the data centers and locking down the power.
It carries more risk than a senior secured layer, but it is structured, it has covenants, it has protections, controls, and senior security.
Over the equity.
And here's the macro story you need to understand.
The banks have pulled back from a lot of this kind of lending, and the build-out needs far more capital than the public markets can comfortably supply.
So private credit is rushing in to fill that gap.
And it is eating this entire space alive in a good way.
A staggering amount of smart, patient, institutional money is flowing into private credit around AI infrastructure right now.
And the average retail investor has no
access to it and quite frankly it has no idea that it's even happening.
That brings us to run three, the middle of the stack.
And in my opinion, the single most underappreciated layer in the whole game.
It's the real assets themselves, the land, the power generation, the grid interconnection rights.
I'm gonna come back to power in a few minutes because it is important.
It's so important that it deserves its own segment.
But lock this in right now.
Whoever controls the scarce physical inputs of the AI build out controls a moat that no amount of venture capital can replicate.
You can print money.
Showing 1321–1340 of 4,581 · page 67 of 230
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