Tom Gardner

And then I think the final one is just watching industry by industry.

Again, it's kind of like the earlier one, so I may be repeating myself, but it's who are the AI leaders?

You really want to invest in the AI leader by industry.

I mean, obviously there are many other factors in just that, but you want to start leaning that direction.

Who is making the technological upgrades they're uncomfortable to make because it replaces jobs, it changes workflows.

I think Vinod Khosla, to quote him again, said something like, you know, 90% of AI projects internally that aren't working are being sabotaged internally.

because it's only natural.

If you feel like that's going to take away your role, your income, you're going to half participate or maybe drag your feet or maybe even try and block it.

So technological change like this is very uncomfortable, but we have to find the companies that are willing to make those difficult changes.

And as you mentioned, one place to keep our eyes open to are founder run companies or companies where they have high inside ownership and they have enough success that they can have clear process for decision making to move quickly.

Well, I felt like...

I was ready to do that.

And then before we went live with Sandy, I decided I need to have two for each.

Now that we can range across so many companies, it's hard to limit the ones that I like.

So here we go.

On the cautious side, I'm going to call out Deere, which is automating the farm.

And I'm going to call out MSCI.

Yes, that's bounced around for us between like 540 and 600, and it has not been a good stock, but I mean, their underlying financials of that business are outstanding.

Their return on assets are like 35% plus.

So just a very well managed, very light model that generates a lot of cash.