Scott Galloway

So Israel, markets up, tremendous proximity to AI.

Taiwan, tremendous proximity to AI.

But they're both oil, my understanding is, oil importers.

And what that says to me is that proximity to AI bests

your need for energy.

And then you look at the US, it has both got, it not only has proximity to AI, it's ground zero for it, and we're an oil exporter.

And despite the fact, okay, so think about the cost of production for oil

have not gone up in the United States.

They can still extract a barrel of oil for about the same price as they could five weeks ago.

The difference is they're now getting 40% more per barrel.

That is money that goes into the pockets of shareholders of US companies.

So to a certain extent, the increase in energy costs here aren't leaving our shores.

They're just being redistributed, maybe inefficiently.

But you have a lot of companies, you have oil companies, big companies in the S&P 500 in the United States who are benefiting from this.

So while it'll cost consumers money, and at some point you think that squeeze out other purchases, but you're not seeing a decline in the purchases of site licenses for Anthropic because people are spending more on gas this week.

And that's what drives the market.

Now, in terms of moving forward, also, it just appears...

I mean, there's just no getting around it.

The market has just become this incredibly resilient organism.

Yeah.