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Chapter 1: Is the tech bull market over?
Like I've said, I think tech stocks are going to have another 20% year up.
Chapter 2: Why do people want U.S. software companies to fail?
And this is just early days of what's going to be, I think, a bull cycle that continues to play out. We're going to be going through a massive innovation renaissance in this country that we haven't seen maybe going back to post-World War II.
Do you have views on where Bitcoin goes over the next two or three years?
Chapter 3: What happens to the S&P 500 if tech stocks rise?
All right, Dan.
AI.
Chapter 4: Are AI and Bitcoin actually connected?
I read online that the stock market's over. They just said, hey, software's over. You've been a bull.
Chapter 5: Do power and data center constraints limit AI’s upside?
You're wrong. What do you think? I mean, first, I didn't realize it was Johnny Carson Pomp here. This is actually... It's kind of fun, right?
Chapter 6: How will robotics change labor and profits?
It's kind of fun. I like it.
Chapter 7: Where does Bitcoin go over the next few years?
Yeah. I mean, I'm not as fashionable as you. I like, like... Look, um... In my view, this is, it's year three of an eight to 10 year build out in AI.
Chapter 8: Are we near a market bottom for tech stocks?
To some extent, if you look at earnings, the CapEx numbers, 650 to 700 billion for this year, it further validates our view that this is gonna be a fourth industrial revolution.
Now in terms of what's going on here, the view that software's on the outside, it's a structurally dead sector, I think in my opinion, in my career, I think it's the most misguided, disconnected call that I've ever seen in tech. Because ultimately, Salesforce, ServiceNow, Oracle, Microsoft, they're going to be the hearts and lungs of the AI revolution.
And the use cases, are they happening today outside of Palantir? No. Six months, nine months, 12 months, 18, that's where it's going to happen. So I think what you're seeing here is essentially a deep-seek movement. And I think tech stocks are going to be up. Like I've said, I think tech stocks are going to have another 20% year up. And this is just...
early days of what's going to be, I think, a bull cycle that continues to play out.
Why do you think so many people want to see these American software companies fail? It's like every time that there is a potential excuse, they all start selling, they all start saying it's over. Is it just that pessimists sound smart and everyone wants to sound smart?
Look, haters hate, right? I mean, like I've seen in my whole career, right? Like they always are trying to wait for there's another bubble moment, there's another dot-com, there's another financial crisis. I think all the reality is like to say this is a bubble from the 30th floor of a New York City office building or Metro North, it's easy to say that.
The reality is that someone that spends so much time in Asia, sees it upfront, sees demand to supply 12 to one for Nvidia chips is the exact opposite. And so much of my career, I'll be in Taiwan in a fab, 18 hours a day watching them build. And then all of a sudden, you land in New York airport, there's a fistfight at Dunkin' Donuts. And you're like, there's a reason why US is so far behind.
Now, for the first time in 30 years, the U.S. is ahead of China when it comes to tech. There's one chip in the world fueling the AI revolution. It's led by Godfather of AI, Jensen. You look at the hyperscalers, you look what Palantir's done, Mongo's done. The reality is that Huawei, China, they'll narrow the gap a bit, But U.S. is years ahead of everyone else in the world when it comes to tech.
And that's why in my view, you want to invest in U.S. tech stocks now. So I don't, like days like, if I look over the last week, the amount of panic and white knuckles that we see is very high. But for someone like myself, I view that more as opportunities because I see where the demand is. You have 3% of U.S. companies that have gone down the AI path.
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