The Last Companies That Will Ever Exist

If you capture all four, then the number gets reduced down to three because you won't need capital anymore because it will be so abundant. You'll just have complete and total control of the resources that matter to generate infinite amounts of capital.

That makes a lot of sense. There are these four pillars. It is like a game of civilization like Monopoly in real life where everyone has this set of resources and the race is to deploy them most effectively to get to this end state because now we have transformers, we have AI, we have abundant intelligence. It's a matter of where you can most effectively apply that to see those capital returns happen.

Hey Josh, I've got a problem.

Oh, okay. I like problems. What do you got?

My problem is that the future kind of just seems to be here. It seems to be very very close, very tangible. There are some things that used to be sci-fi that seem to now merely be like engineering problems for companies that are actively working on it. You know, like AI is now an engineering problem. Like robots are now just an engineering problem and there are engineering problems that are also in production.

So the future's here and my personal financial portfolio previously and is still not but I need your help with this not optimized to have exposure to this future that kind of feels like it's just hurtling our way. I've got my crypto bags so crypto the future fabric of finance for the earth. I've got exposure to that but there's just a lot of other future things that I don't have exposure to.

I feel very underexposed to which is just I don't want to be underexposed to the future. That's a bad thing to be underexposed to. You and I have been talking a lot and I listen to you on Limitless a lot and you've informed me quite a lot of what I think about the future technologies and just what I think it takes to have like a modern portfolio thesis for having good future exposure. and I kind of want to run this thesis that I've been building with you.

Are you ready?

That sounds great. Yeah. We're gonna futureroof the portfolio. Let's go. Yes. Okay. You have helped me create basically all of this and so I want to I have digested it and I've got this model and I want to give it back to you.

I'm very excited to see the regurgitated version of this because it makes sense in my head, but I'm curious to see how that actually looks like on the outside. I am calling this, this is just a name that I just thought up like 30 seconds ago, the Infinity Gauntlet of capitalism.

Okay, that's got a good name. That sounds like a movie. I like it. Okay, so the idea here is that we are on the cusp of there being some of the last companies that will ever exist. And what I mean by that is that there are some companies out there, we're going to talk about them.

I want to talk about them with you that they are just racing towards this outcome where they just become like so incredibly entrenched in the world. They like stitch themselves into the very foundations of society in a way that's just so hard to get uprooted or displaced. You know, like one example I want to talk to you about is Google.

You can't do anything on the internet without Google pocketing a few pennies here and there like Gmail they have their AI model like Google ads like almost anything on the internet like Google pockets a few pennies stuff like that and there are these four puzzle pieces out there like the infinity gauntlet you know the four jewels you know the infinity gauntlet had five my infinity gauntlet of capitalism only has four but there's four puzzle pieces is that I think companies are racing towards acquiring all four of them.

Some of them have more than others. We're going to talk about who's got what, but if you if one company gets all four, they win capitalism. Like they just win the game. The world is the a monopoly board and they have, you know, they have hotels on every single space. And here are the four jewels. Intelligence, energy, capital, and labor. These are like the four fundamental things.

The logical conclusion that some companies some companies have some of these are like pretty close in getting to them. Others are very far behind. But like it my idea here is that if you get all four of these, you are the company that basically can do whatever it wants.

I'll pause there and let you reflect.

Well, in a way, if you capture all four, then the number gets reduced down to three because you won't need capital anymore because it will be so abundant. you will just have complete and total control of the resources that matter to generate infinite amounts of capital. That makes a lot of sense.

It's there are these four pillars. It is like a game of civilization like monopoly in real life where everyone has this set of resources and the race is to deploy the most effectively to get to this end state because now we have transformers, we have AI, we have abundant intelligence. It's a matter of where you can most effectively apply that to see those capital returns happen.

So I totally agree with you. Capital is a resource that you can use to get the other resources, but that's actually true for all of them because if you have energy, you can like energy is the common denominator. One person we've had on the podcast plenty of times before is Arthur Hayes on the podcast, he frequently says, "I denominate in hydrocarbons."

And something that you taught me is that if you have intelligence AI LLM, you can actually just pump energy through an LLM and get more intelligence. And so there's a feedback loop with all of these things. So like the more capital that you have, you can buy more, you can buy more energy, you can pump that energy through an LLM and get more intelligence. And then we'll also talk about labor.

So all of these things have like a feedback loop and there's a few companies out there that are hurdling towards all of I want to talk about them. I first want to talk about each individual jewel, each individual puzzle piece. Let's start with intelligence.

Well, there's this metaphor of like crossing the event horizon, right? Where like this event horizon is a thing that once you get there, you kind of don't really come back and we are in the humanity is working on AI. We are working on growing intelligence. These LLMs are getting so much more sophisticated.

Now, people are worried or thinking about that like our LLMs are going to start feeding back in on itself and we're going to point the LLM at itself in order to improve itself. This is what Daario from Anthropic talked about. This is what that 20 AI 2027 paper talked about.

And so this is like the the intelligence puzzle piece in the pre-event horizon era. Intelligence is humans. You know, like companies are built above humans. You have managers, you have engineers, you have analysts. Yeah, intelligence is expensive. You have to pay it a lot. It's slow. It's scarce. It makes errors.

And like the organizational size of a company is just fundamentally capped by human cognition and just humans. Humans just aren't great. We're we have intelligence, but now there's this thing out there that commoditizes intelligence. And we we did we did an episode the last time you were on Bakeless. It was about the post intelligence explosion.

So I want I want you to help me illustrate this point of just like in the near term intelligence is just going to become such a commodity and there are companies out there that are doing that that are working towards that puzzle piece.

Yeah. And why is this possible now in like now now in 2026 when it hasn't been possible previously to this?

And the answer to that is the the transformer. The transformer allows you to put energy in one side and like you mentioned you get intelligence out the other. And it's proven so far to scale with the scaling laws where the more energy, the more GPUs, the more compute you could push into this transformer architecture, the greater the intelligence that comes out on the other side.

And what we're seeing today is there are AI labs across the board across all different shapes and sizes who are training on the same architecture trying to solve the same problem just in slightly different ways. You'll notice anthropic is trying to be a little spiky towards coding and math and maybe Gemini is more catered towards real world physics.

And what's happening is while they're all competing for the same prize, they're doing it in separate ways that are kind of commoditizing each one of these pillars separately and competing to bring those costs down as fast as possible to allow kind of abundant intelligence everywhere. And what abundant intelligence looks like is real world applications across the board.

Previously, intelligence is really just constrained to to humans and textbooks and very laborious knowledge. But now it's available through the natural language of English. You just say words to your computer. You type things into your computer. It's very intuitive.

So now, not only are there more people capable of using these tools to gain leverage, but the people who are not natively inclined to do things like write code or program or optimize their business can just ask the questions to an AI and defer it to that. So the single individual because of this, because the costs get lower, because intelligence is abundant, gain so much leverage in this new world that there there's just so many more things that they are capable of.

But also downstream of that that entire companies are capable of because everyone is so levered up with this new form of intelligence.

Yeah. Something that I know that Google is doing is like Google is trying to apply AI and intelligence to allow other companies, firms to have a literal like central intelligence agency over its own company. Because like one of the the largest frictions in a company is like especially at at scale when like your company scales beyond like a hundred people or even honestly before that and then you you even get into some of the super scaled companies that have tens of thousands of employees.

There's not a single person that knows what's going on. Like that's what the CEO is paid for paid to do is like know everything about the company. That's how who's the who's the the CEO of Google right now? What's his name? Uh right now it is oh my god he he goes he goes on all the podcasts wait um Sundar it's Sundar right Sundar yes there we go he he talked about this I think on the door catch podcast where like what there's a product that like what Google's trying to do is it allows its AI models to be the central intelligence of other companies and so somebody can query the the local LLM the local intelligence of a company about what the f is going on and all of a sudden like you automate so much labor which is requires this internal bureaucracy like 50% of all companies are just big companies are just bureaucracy and if you can just automate that and like the c the hub the brain of your company is this intelligence that that is like the explicit future that Google is trying to go for.

So in terms of this like intelligence puzzle piece, I think Google's kind of the furthest along there. Uh paint that picture a little bit more for you.

Yeah, the intelligence when applied to a company like that, it kind of flattens the hierarchy where generally there's layers of middle managers that are reporting up the chain and it's a very lossy system. It requires like you mentioned a lot of bureaucracy with AI. And I actually just read an amazing example from Toby Lucky, the CEO of Shopify, and also Brian Armstrong, who copied him, who said that they implemented AI systems into their business.

It's scanning through the Slack messages. It's looking through the the GitHub repos, and it's analyzing all the changes, all the dynamics between the people, and instead of prompting the AI with decisions that it wants to make, it actually queries against the AI and says, "Hey, where are the biggest gaps in my company right now based on what you see?" Because AI has the context of the entire company, it's able to analyze and find patterns that a CEO otherwise wouldn't have been without needing to go through the many layers of middle management.

So the end result was that uh in the case of Ryan Armstrong that there was a conflict between these two teams and it was a fairly large conflict that he was blissfully unaware of that AI surfaced because it has access to these channels and Google in particular is equipped to I guess handle this instance but also handle intelligence in the past because I mean like we mentioned earlier the transformer paper was made by Google.

AI essentially spawned from Google. Google was a team of researchers and still is that failed to make a product, but they had all the intelligence. They had all the science. They had all the researchers. They had all the engineers. Now they're building this into products. They're shipping the products to the public.

And what you're seeing is is businesses like Shopify and Coinbase that are actually getting affected where the CEOs are really changing the ORC structure because it is so powerful because it is all knowing and you have that context like you mentioned where it could store all of the thoughts in its head and then you query against it and you become the orchestrator, you become the filter. But at the end of the day, it is AI doing a lot of the the thinking power.

Yeah. And as I understand it, Google is like turning this into like a platform for other companies to be able to use like use Google's intelligence products to be like the internal orchestrator of your company's like org chart basically. And like who is better positioned to do that other than the person the company that has you Gmail and the Google Chrome and has the Gemini model and probably like seven other resources that I just can't really name at the moment but just like the internet runs on Google.

So I feel like Google is particularly well equipped on this this like jewel of the Thanos gauntlet big time.

Yeah. And the there's also there's a second prong to this where they do have the ability to work with businesses and we we saw this earlier in the year where they're signed a deal with Apple and they are going to be exclusive AI provider for Apple's new intelligence because Apple just couldn't do it and that's a huge deal that is a billion dollar annual deal uh that is happening because Google is capable of providing this at a cost that other companies can't.

The second part of this is the consumer part that doesn't affect businesses but is equally as important because Google has what is it about just under four billion users that use Gmail on a regular basis. Four billion. It's like half of the planet. It is an unfathomable amount of users that use their product that use their software because they're just so prevalent.

They're freely available and they're they're impressive tools that basically the internet uses. In a way, Google has created the foundational layer of the internet through Google search through Gmail. Like when you use email, even if you're not using a Gmail URL, you're using the G suite of applications with your own custom domain at the end. It's just so prevalent in the internet.

And as they're starting to build up these intelligent products like Gemini and deploy them into these products, even the average consumer is starting to see huge amounts of upside where maybe they're not running a company, they're not a CEO, but they have aspirations to or they just have aspirations to run their life more efficiently. These tools that Google has are giving it to them.

And one of the one of the realizations I had earlier this week that really stuck a pin in this Google value thing is there was this this AI agent called Claudebot that you download, you install it on your computer and you give it access to everything, all of your files on your machine, all the documents that you have. And what I realized is that my Gemini agent that runs in Google Chrome is far more powerful than the one that has access to my desktop because it turns out all of the knowledge work I do, all of the conversations I have, all the messages are stored in Google's data centers.

That's where all of my value actually occurs to not on my local machine and Google owns that and Google has the ability to build tools on top of it that can further enhance that experience and offer it at a very very low price at most points free.

Yeah, I guess a data owning data is a very fundamental part of of this not energy intelligence piece because if you have intelligence without data you don't you don't really have you have computational power but not without without any inputs and so like intelligence without data is kind of kind of hamstrm.

Again, getting back to that that earlier point of intelligence becoming a commodity, the thing that actually separates one company from another is that moat that they have is the reason to incentivize a user to come back over and over again because if you're really just competing on cost. So, what's the wild card on top of cost? Well, it's all that data.

Google knows everything about me. It has all my emails, my order confirmations, my reservations, my messages, my calendar. And having all that value in one place is extremely sticky and makes me as a user want to come back. and Google is really taking advantage of those 4 billion people that use their products and leveraging it to to a way that really gives them a very strong advantage in this game.

Yeah. So, but there are other companies who are also going for the intelligence puzzle piece, right? Open AAI is known as the AI company. also anthropic with cloud and also there's also XAI and so like the Google's not the only one in this race but you said something to me that I thought was very wise about what separates like Google from Anthropic or Google from OpenAI.

We saw like la last week Sam Alman announced that they're going to integrate ads into chat GPT and like I think everyone is just like pessimistic about the future of the chat GPT product because of ads. We all have seen the quality of our experience on the internet degrade because of capitalistic incentives and so when ads come into the picture like things just degrade.

Google has said that Google doesn't need to do that with Gemini. They have the Gemini product. It's comparable to chat GBT. Maybe some people even say it's better. But like the Google is explicitly saying no, we are going to subsidize our product so that more people use it, which is exactly their same strategy that they won like Micros. When's the last time you opened up Microsoft Word, bro?

Never. Never. middle school in like when they forced me to because you use Google Docs, right?

Absolutely. Yeah. Because it's free and it's on and it's on the internet, right? It's like actually it's not like no one even cares about Google Docs as an application. It's on the website. It's on the internet. It's inside of Chrome. Uh and so the fact that Google also has the second puzzle piece which is capital which enables them to do this is what really differentiates chat GBT from Google.

Talk about why that capital element is so so powerful.

Yeah. So like again the person with the most resources who can most effectively deploy them the fastest is going to win the game. And in the case of OpenAI, they started from nothing not that long ago and they are required to continue to raise tremendous amounts of money. Their most recent round they're trying to raise $40 billion of capital to continue to pump into scaling these data centers to give them more intelligence.

The problem is is that they can't actually make a profit large enough to offset the increase in cost that they need in order to scale this company to the place they want to reach AGI to get this abundant intelligence. So that leaves them very little wiggle room to one make mistakes, but two kind of ignore the revenue problem. They need to make revenue quickly and effectively otherwise the the fundraising rounds are going to dry out and they're going to have a serious problem on their hands because they have a tremendous amount of debt obligations.

And it's it kind of catches them in this weird dilemma where good companies continue to make great products and they continue to add value to their users. And while I believe Chhat GPT is going to do that, there is a trap that a lot of companies fall into in the absence of innovation which is becoming extractive of their user base to further build their revenue model.

And the ad model which is very web twocoded applied to this future abundant AI that should be able to do anything and should be able to generate so much value that it doesn't matter if you're selling ads feels like a trap that they're getting caught in where they are beginning to become extractive of their user base in a world where that's probably not ideal and Google has the luxury because they have this gigantic balance sheet they want they run one of the highest margin businesses on earth they have the ability to basically subsidize eyes their way out of this competition with open AI where I think open AAI when they released chat GPT for the first time it was GP2 3.5 that was kind of the opening bell and it caught Google very much offguard and it caught everyone else off guard they got like half a billion users before anyone even could create a competitive product but they don't have the balance sheet to subsidize now Google can come and say hey we don't need the money now we have a ton of money we just want to create the best product we're going to offer you the best product at the best price and therefore you don't need to go over there and either pay $20 a month to get served ads. We're just going to give you a better product for free here. Go have fun and welcome to our ecosystem.

Yeah. And I mean I'm not Sam Alman. He seems like a very competent operator, but man, seeing being the idea of being Sam Alman right now seems to be very stressful. I don't envy his position. No.

Because because like even if Chat GBT is in a vacuum a better a better model, a better LLM than Google's Gemini, when you add ads on it, you just might end up tilting the favor in Google's balance and like all of a sudden your users just naturally flow to Google and Google just incentivizes its own creates its own in further network effects that it already has massive network effects of.

And so like the idea of just like chat GBT add being compelled by capitalism to add ads might also be the thing that makes it uncompetitive with somebody who also has the capital puzzle piece on its Thanos gauntlet of capitalism.

Yeah. And it's it's this impossible problem which has been the contradiction with open eye since day one where they started as a nonprofit and then they were like, "Oh, wait a second. We really need a lot of capital." And then they're like, "Oh, wait a second. we actually need to make some revenue so that we can pay back the debts from this capital we need to raise and it's this perpetual debt that they are acrewing just to catch up to these conglomerates that have the capital already to to deploy and to build these things.

So the intelligence problem with open is a real one and you see the struggle as well with their new products like the the rumored social media feed or the Sora feed. It just feels a little lost. It feels like they're trying to go viral for the sake of earning users and earning revenue versus actually creating a really compelling product that generates net new value. Not just like web 2.0, we're creating the AI Facebook now with ads on top but with web 2.0 but make it AI.

Because they announced that they are working on a, you know, a worldcoin human verified social network, which is potentially a great upgrade from the social networks that we currently have because of its human verified. But nonetheless, dude, it's a social network. Like, who the f cares, man? We got those. What value is that contributing to humanity in the year 2026?

Yeah. And it's it would be the ultimate tragedy, right? Is because the so much of the engineering density and talent in the early 2000s, mid mid2010s went towards generating these algorithmic social feeds to get people hooked and addicted to see more ads, to generate more revenue. And that business model applied to AI just seems so sad and so dry because there is so much upside with this AI.

It is uncapped. You can do so many amazing new things, create new products, innovate on top of it. It would be a shame to just get stuck back in that old place and continue to to build there.

Okay, so that those are the first two puzzle pieces, intelligence and capital. And I think we did a good job illustrating the relationship between those two things. I wanted to add the third jewel to the Thanos gauntlet of capitalism, energy. As we alluded to, you get more intelligence when you just pump energy through LLMs. That's actually something that you taught me.

Maybe you could talk a little bit more about that, but also talk about just like the importance of energy as it relates to both intelligence and also just like kind of everything.

Yeah, in the gauntlet the most important one and at the end of the day the only one that truly matters is this energy pillar because in the absence of it there is no capital, there is no intelligence. It is a direct downstream effect of energy and we have some trouble getting energy and this is going to be a continued struggle and probably some sort of a bottleneck in terms of moving forward in how AI progresses.

But the energy thing is super critical because there is that direct correlation between energy in and intelligence out. And the companies that are most equipped to leverage this to get to multiple gigawatts to terawatts of AI compute and training, they're going to be the ones that that win because it is the scarcest resource. It's so difficult to get energy.

In the United States, we produce what is I think we use about 1.3 terowatts of energy per year. We're only able to use about half of that. And the projections by the end of this decade for AI data centers are going to consume a huge percentage of that if we don't build more energy. So the energy problem is very real and in a way energy I believe in a world of abundance like we are we're kind of hinting at energy does become the end state of capital too where like the end currency is likely wattage instead of dollars and I think that's an important denomination because wattage can actually get you value. wattage can be converted into anything. It could be converted into intelligence and therefore anything downstream of that. Whereas currency, I mean, it's it's very finicky it's very fickle. It can it can be debased, it can be changed, but energy is energy and we have a shortage of it and we probably always will as we continue to scale these AI systems.

I think what you alluded to is like when you have all four puzzle pieces, you have energy, you have energy, you have labor, you have capital, and you have intelligence. You don't need money anymore because those are the four things that you need to do anything that you want in the world. You like capital has just been money is been basically just trying to coordinate resources. But if you own all the resources and you have access to all the resources, you don't actually need to coordinate them yourself because you have the intelligence to do so.

But we are skipping ahead a little bit. I I keep I keep wanting to I want to drill down a little bit more on the energy thing. Is it true that there are data centers out there that have like Nvidia chips ready to go and they're just idle because they don't have power? I heard that like somewhere not terribly long ago. Is that true?

Uh there was a case where that's true. I'm not sure that still is, but that will be an impending problem I would imagine.

Does that mean does that imply that we are producing more GPUs? We're manufacturing GPUs faster than we can produce energy to power them.

Currently, it it appears as if that is the the current trend. I don't suspect that will continue to be true because we we are very much going to hit a chip wall in the next couple of years should there not be more fabs that come online. But in terms of the the energy issue, it is true and it's it's due to two things.

One of it is just that the grid doesn't have a sufficient amount of energy to supply these data centers without ruining everything else. It's like these data centers are very power hungry. A single data center, I believe one of one of XAI's new Colossus data centers consumes about as much electricity as San Francisco, the city. So, it's a tremendous amount of energy density packed into one place and it does have a burden on the grid.

The second part of this problem is actually building the data centers and getting the rights and the approvals and all of the other requirements needed to get the power plugged into this thing. They're meeting a lot of resistance through the cities that they build in because it's a big impact on whatever town or city they're being built in. It's a huge strain on the grid. They use a lot of resources. They make a lot of noise. It's it's very taxing on a city or state that it's placed in.

And they're having problems there, too. So, it it is twofold. We're running up against the energy problem for sure. There will be dark GPUs because we just can't power them. But then there's also a world in which we can power them and we don't have GPUs. So, it's this very fragile balance between the resources here.

And like when everyone likes to to talk about a bubble and where it's going to form and how it's going to play out and it's important to just kind of have your eye on all of the the elements that are involved and and down the whole stack. Even things like RAM and memory are becoming a big bottleneck. So energy is important. It is challenging particularly with all the legislation particularly with the an outdated grid that isn't built for data centers and it's causing a lot of problems.

Yeah. Okay. So you pump more energy through an AI model, you get more intelligence. Also, if you pump energy through the last puzzle piece, labor, you also get more manufacturing. So these are the this is how this relates to the other puzzle pieces as well. Uh if we want to move not bits but atoms over the last 20 years, last two decades, human innovation has all happened in the world of bits.

Like we haven't really innovated by contrast in the world of atoms very much. Like all the in innovation happened behind screens. Like if you wanted to go find the future over the last 20 years, you had to go into your phone. You had to go look at your computer. Uh maybe that's because labor hasn't really been all that innovative. And the way that energy feeds into labor, let's talk about that next. Let's talk about labor because there are a few companies out there who are in the same way that the AI labs, Anthropic, OpenAI, Google, XAI are commoditizing intelligence, there's a few companies out there who are commoditizing labor in the exact same way.

Can you talk about that?

Yes. And to your point about the world's changing slowly, there's this great example that I love where someone who was born in 1870 and lived to 1920, just in those 50 years. Over that time, they saw the invention of electricity, the telephone, the automobile, the airplane. Like you you were born and there was horse and buggies. And by the time you were 50, there was airplanes flying through the sky. And that was downstream of this like unbelievable era of manufacturing and industrializing and building net new things.

Since then, we've stalled. We went to the moon like how many years ago and we haven't been able to go back. There's been this like very clear stalling in the world of atoms like you mentioned in exchange for progress in the world of bits where the internet as as an invention as a creation has changed the world as we know it. But the world itself hasn't really changed a whole lot outside.

And labor and the decreasing cost of labor is going to change that in a huge way. And I think that's the theme between all of these gauntlets except for capital is that there is deflationary effects happening. And as those deflationary effects happen, as the cost of labor, the cost of per kilowatt, the cost per piece of intelligence per token goes down, it unlocks this tremendous amount of abundance. And in the world of labor in particular, humanoid robots is the very clear displacement of of that value capture.

And with the advent of these humanoid robots at scale, with the intelligence that we spoke about that pillar built into them, they are able to basically capitalize just revolutionize the economy in a way that that offsets a lot of the labor that humans have for a significantly less cost, which therefore uncaps the upside because the really like the GDP of a country is really just like the the amount of the output of a person times the amount of people. And that's like how much output you're able to create, how much value you're able to create.

And if you replace the person element with a robotic element that works 24/7, that works without making any mistakes, that has no patience, that doesn't talk back, that is just doing a job executing an outcome. It essentially uncaps what labor markets are capable of, and it allows you to change the world around us because labor is so cheap and people have gotten lazy. We got a good life. It's it's been very easy to sit back and scroll on those timelines that we talked about that were generated to optimize pleasure and it's this really easy trap that you get caught into which we have and it's probably led to a significant decline in terms of our actual innovation in the physical world es especially when you combine intelligence and labor like blue collar and white collar.

Do you mean like all of the human jobs out there? Not to get dystopian. I don't really think I want to care to like say that like all humans are just going to become unnecessary. That's a different podcast episode. What this episode is about is like we are literally building robots this year. There are going to be robots that walk among us this year. We have already been working on intelligence for four years and that race isn't stopping anytime soon. If if only it's getting faster.

You put those two pieces, those puzzle pieces together, intelligent robots, that's the complete labor force. That's the atlas that holds up the world's GDP. And what if you had a labor force that was you didn't have to feed, you didn't have to have bathroom breaks, you didn't have to pay for healthcare. Ignoring the dystopian stuff, again, separate episode. Fundamentally, the GDP that comes out for the profits of corporations will just go through the roof because the cost will go down. Intelligence, the cost of intelligence is going down. The cost of labor is going down. and you have a fleet of robots that can work 247 365. We can just do things at that point.