over the past couple of months about my fear, I think our fear of three bubbles.

The crypto bubble, the fiscal bubble, $36 trillion, and that and the stock market bubble.

I want to read this.

I just looked this up while Mika was introducing you.

The stock market, this from Fortune three days ago, the stock market gauge named after

Warren Buffett just hit an all-time high, sending a warning worse than before the dot-com bubble

bust. Hey, this may be a one-day story. That said, Warren Buffett's believed for a very long time,

and a lot of other people like me believe

for everything. The valuations are not connected to reality, whether you're talking about

crypto, whether you're talking about just how huge the overvaluation is of a lot of stocks.

Look, there's no question the market has been almost priced to perfection.

It almost has to be perfect for it to all work out or make any kind of sense.

And by the way, you're talking about crypto and you're looking at these AI and big tech stocks.

They're almost connected this morning insofar as Bitcoin has now fallen below $100,000 in large part

because a lot of the folks who own crypto also happen to be beneficiaries or happened to have owned a lot of those big tech companies.

I just want to put this in perspective. Today, this week, last week, I think is going to be historic in terms of a major shift, an upending of the entire paradigm around artificial intelligence,

the big tech companies, the big chip companies, and everything else around it, including energy.

You know, for a very long time, the last two years, we've talked about these scaling laws,

this idea that for AI to get better and better, you need faster and faster chips.

They need to be putting tens and hundreds of billions of need faster and faster chips. They need to be putting

tens and hundreds of billions of dollars of investment in place. They need enormous amounts

of energy to support all of that. All of a sudden, literally in a week, we've now seen

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