00:03Is that you have to have an environment that's relatively free of regulation meaning that new
00:11things must be default legal as opposed to default illegal. So in the EU for example we find that
00:19the regulation level is extraordinarily high and things are generally default illegal and this
00:25inhibits progress of new technologies. It slows it down. It doesn't ultimately stop it but it slows
00:32it down quite considerably. Is that there will be a significant power shortfall next year. So not
00:40like distant future. There's expected to be, I believe the consensus estimate among analysts that
00:47follows the AI space very closely is that there will be at least a 15 gigawatt shortfall of power
00:54in 2027 for AI chips. So this is perhaps an obvious thing that one would expect to occur because
01:05the rate at which AI chips is being produced is has been rising incredibly rapidly. They're sort of
01:12rising on the order of 40 to 50 percent a year. But the power available outside of China has been
01:18rising at like 10 to 20 percent a year. In fact even I'd say at this point there are challenges
01:25with
01:26power even before next year. Which is why Google and Anthropic and many other companies are actually
01:32leasing compute from SpaceX. Because we've been able to turn on AI better than anyone else so far. But this
01:41is
01:41by constructing our own power plants is the only way we were able to do it. In 10 years of
01:47humanoid
01:48robots and I think this is a conservative estimate by the way. This is one I would be willing to
01:54put
01:55serious money betting on. That there will be at least a billion robots in 10 years and that those robots
02:01will be at least five times the output of a human. Meaning the billion humanoid robots will
02:07will be more productive than all humans combined.
