Zaid

The internet innovated so many different industries.

And there was a boom and bust in that industry as well.

Are you sure the market is going to kind of put up with this kind of spending that we're seeing in AI, or are they going to start rejecting it like we saw with the AI bust back in 2000?

so that you make a very, very compelling case.

I guess what I worry about is right now, a lot of the spending is coming from the hyperscalers, the Microsofts, Google, Amazon.

And as we saw this week with Microsoft, the market is now ready.

They're being a little worried right now.

The market's worried that, well, if this investment isn't paying off, like we saw with

The Azure cloud growth came in slightly under what the market wanted.

The stock got crushed.

And so how much stomach does the market have for all this increased spending if there's not a payoff in the near term?

Yeah.

And yeah, TSMC increasing their CapEx plus ASML, which is one of their suppliers, the lithography machines.

They make the lithography machines.

They also said something similar.

They're seeing record orders.

So we're seeing the signs that like there's no slowdown in the investment.

But I think you make a fantastic point about like investors are going to have to be patient.

Now, this is not like a short term play.

The payoff might not happen for maybe half a decade.