Another thing that is patently obvious is technology is not going away, but if the thesis is that technology is going to continue to have this ridiculous adoption, whether its ai ev, whether its robotics, whether its genetic sciences, all of these things that are around us space travel Well then, if its being sold in a fire sale because everybodys panicking well, surely that makes sense because technology has outperformed the market for the last 40 years, so you always want to be buying technology. So if youre thinking of your 401k youre a you know, youre in your 30s, you look at your 401k and youve still got your income because thats the most important thing of everything youve got your income. You should be going okay, i should be buying technology stocks and i should be buying crypto, because these are long term mega trends. Is this like another time? Is there something that we can learn from historical trends that we could be applying to our investment thesis now? So the investment thesis i dont believe so necessarily theres a lot of macro similarities with the pasts past episodes and everybody makes it very dramatic. There tends to be a lot of doom porn and ive been a proponent of that as well. You know everything looks like the 1929 crash. Everything looks like were going to go to world war ii. Everything looks like you know its 2001 all over again. Yes, those things happen, but things go on and if you bought tech stocks after 2001 crash youd be very, very wealthy.

Indeed, if you think of jeff bezos, he launched amazon, bright, eyed and bushy tailed has his ipo it explodes in price. It was like, oh amazing, online bookseller. It then falls 96 right, so this is exactly what um i went through in crypto exactly the same, and then what happened is well unlike most of his investors he held on and it went up a lot again still didnt make up the high. It fell. Another 80 percent – it went up again, it then fell 60 percent, and then, before you know it, this online bookseller was suddenly worth more than all the book selling companies in the world added together and it was still trading at a price earnings ratio of like 800. Everyones, like this is crazy. This is a bubble, but what we didnt realize is he was building a network, this network for e commerce and then the computing power that drives it. You know, and so over time. Amazon just did that, and these are the things you need to think about in this is where are we in the volatility, and is this going to survive? Those are the two questions and if the long term trend is there, then you should be buying into all of this. What are the smartest people buying right now? Anything? Are they sitting in cash? Are they moving on something? There is a lot of respect theres a lot of cash, so i have my global macro investor roundtable, which is a bunch of my subscribers from my kind of very high end institutional research service, a bunch of the worlds, most famous hedge funds, family offices, asset management Firms – and we all have this little enclave here in the cayman islands, with a lot of wine and a lot of discussion and trade ideas and stuff like that, and generally people are a lot in cash.

The real estate developer, guys. You know the kind of wealthy guys who are in real estate is their primary thing. A lot of them had sold quite a lot um. Then the the hedge fund guys were very concerned about recession, but were looking, and so they were buying lets call it cash bonds, cash anything to kind of just not be involved in risky assets like stocks and stuff, but they were looking for the opportunity for the Other side, which is what what is that opportunity and the opportunity was technology, crypto and commodities. Commodities have gone up a lot recently, but weve got this um its this greening thing. Thats going on right were going to green the world. We have the political willpower to do it and its going to happen faster than the market can take, and that means we under invest in mining stuff and we over invest in battery technology. Wind farms, solar farms right and the idea is eventually you accelerate this. So much that it becomes the adopted technology and electricity becomes cheaper from doing it. The issue is theres, not enough. Copper for the electricity we need to generate so were about to go into this enormous copper shortage. You dont notice it now because the economy is weakening and so less people demanding copper, but once we come through the other side of this youre going to have this huge demand for copper and its a problem, but its part of that green energy transition, green energy Transition also is going to require a lot of other stuff to build these wind farms.

These solar farms, the hydrogen power that you know and whether we go to atomic energy or whatever it is its a whole change in how the world works. Its very similar to the 1950s, when we kind of rebuilt america, factories and all of that kind of stuff, so that moment in time means that these guys wanted both commodities and technology um, because they know this ones probably kind of a a good five or ten Year cycle and the technology cycle is limitless right now so thats, i guess where most people were thinking, but everyone was very nervous over this next three month period about what happens to the economy. What could happen to market? What are the um? What are the signs that they will look for to go in on something? So we talked about income plus opportunity, so theyve got the cash, so you know one of the worlds best technology invest investors co2. I think thats 70 cash whoa, which is extraordinary because these guys are you know, theyre aggressive technology, investors, 70 cash, theres, a whole bunch of people who are so. What theyre saying is the future opportunity is going to be big and its going to be cheaper than it is today now. Will they time it properly? Will etcetera, doesnt really matter but heres? What the smartest people are saying is the future opportunities better than the present opportunity. So thats a little scary, though, because that means prices are going to go down further.

Well, we dont know when they had that bet. They might have done that four months ago, in which case has been a very good bet and theyll be looking to deploy. If i read their investor letter, they say theyre now, starting to look to deploy stuff into interesting opportunities where things are really cheap, which is the thing i said before when the market throws out the baby with the bath water thats. When you start finding the things you really like, you know, in crypto world things like solana, great project down, 85 percent theres a whole bunch of these big layer, ones with network adoption effects already. These are not super speculative assets, theyre, obviously speculative risky, but not super risky theyre all down 80 85 87. Okay, that becomes interesting if youre new to the channel dont forget to hit the subscribe button and bell notification.

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