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 months
4 · Jul OctJan 26AprJulnow

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

Appearances

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Specifically, secured, permittable, deliverable power physically connected to the grid.
On a timeline that actually matters to investors.
In a lot of regions in this country and around the world, the interconnection queue, the literal line you wait to plug into the grid is years long.
Years.
So when a developer struts in and tells you they are building a massive AI data center,
The first question a real allocator asks is not how big is it and not what's the return.
First question is show me the power.
Show me it's secured.
Show me it's permitted.
Show me exactly when it gets delivered.
Because here's the trap that's going to wreck a lot of people in this cycle.
There are deals all over this market right now that are quietly assuming power.
They have not actually locked down.
And the returns look absolutely gorgeous on the page.
And the entire structure is sitting on a power assumption that may not materialize for years, if it ever materializes at all.
That enormous risk is almost never priced into the headline number that you get shown.
So when you're underwriting anything in this space, power is not a footnote.
Power is a detail.
Power is the deal.
No secured power, no deal.
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