00:00Where we are a bit more maybe skeptical relative to the broader narrative is that in particular from some of
00:06the U.S. companies is that one the Chinese are very good at collapsing costs and you know just look
00:10at the market cap of unitary I mean IPO market cap I think 9 billion and now it's gone up
00:15six times so it's still sub 50 billion dollar that's nowhere near you know numbers that some of the U
00:20.S. some of the U.S. startups are valued at numbers higher than that we do have to question what
00:25what is the ultimate sort of value that can be extracted for these companies in the presence of a
00:29Chinese robotic sector that's trying to drive costs down one thing that was a bit of a worry was that
00:35I mean right now you have maybe I mean excluding the unitary IPO you have less than 20 billion dollar
00:42of market cap in humanoid companies and the majority of the market cap is actually in the humanoid component industry
00:50which is probably over a hundred billion dollars and what was a bit worrying that many of these component companies
00:58are eyeing to actually supply
00:59the Teslas of the world they're sort of comparing the journey that Foxconn took with the iPhone and what that
01:05might mean as a business opportunity for the next two decades for them but then only a few people can
01:11win at this game so it's going to be immense competition among the component suppliers
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