Telis Demos
speaker
656 appearances
10 recordings
1 series
first heard Jun 2018
last heard Dec 2024
Telis Demos’s voice in public audio — every appearance, attributed to the second.
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Appearances
And that's one place, of course, people look for spending on travel.
But I think that because the consumer is overall still pretty strong, they have lots of money in their checkbook, they have a job.
Their wage growth has often outpaced inflation.
The question is whether or not people are going to be spending a little bit more on things that might be travel but might still be things they don't absolutely need.
Yeah, that is an absolutely wild number to me.
I mean, just for context, that is three Berkshire Hathaways, which is itself a pretty big company, right?
But Gunjan, am I right to also say that there's some skepticism about the AI boom that's been kind of setting in in the market this fall, right?
You follow volatility in the market so closely, and it seemed like it was really on display in the aftermath of the earnings reports of a couple of those big tech companies that have invested heavily, and I mean heavily, like to the tune of tens of billions of dollars heavily, in AI products.
And that's, for example, Microsoft and Meta Platforms, right?
Meta being the parent company of Facebook, Instagram, et cetera.
Those both fell sharply after their earnings.
But then again, they've bounced back since, so maybe I'm just kind of going on about nothing.
So I think this AI boom can continue from here.
So you mentioned those investments.
I mean, we are talking very serious numbers here, right?
Microsoft has spent $53 billion this year through the third quarter.
That's about 28% of their revenue over that time frame.
Alphabet's CapEx was up 62% in the third quarter over the same time last year.
So these numbers are big and growing.
But for all that, you know, kind of call it AI power grid that's being built here, some of the big society-changing things that we've been talking about with AI, like-
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