Future of AI and Economic Impact

When will it recover?

Again, I'm for me. This is a very simple thing and I say simple because

It's what I do believe in terms of the endgame for AI

AI agents and the network effects happening and the amount of

Volumes that will be going on the economy will change forever

There are two things that will happen and I've mentioned this on here at least a few times when Caitlin long wrote a piece

About the velocity of money changing now

This is a trad 5 banker who understands GDP and I we both respect Caitlin a lot

She knows

That world really well and so do I velocity of money has been a dead thing. And the reason it's been dead is

Because the world's assets have gone up so much

So when you go through the whole what Bitcoin represents it represents the fact that the fiat assets have gone up so much the distribution

Of wealth has gotten worse and it makes people angry and the government just keeps solving this problem

They're not gonna need to do that anymore. And the reason they won't need to do that is a combination of demographics. So there is

700 plus trillion dollars of wealth on the planet. It's in assets two-thirds of those assets are in dormant assets

It's money a house is money. If you can get cash for you can go spend it. It's money

It's like what SpaceX was SpaceX was a dormant asset

It was a private thing and over the course of the next

Few months a lot of people are gonna be millionaires and actually can go cash in their money. You'll have billionaires

I can go cash in their money. Then they can turn around and go spend that money. They can go buy houses

They can do whatever they want

But it was a dormant asset that you'd have to go through hurdles to go borrow against with tokenization and with AI agents

Transacting a lot the velocity of money is going to increase

significantly and when the velocity of money goes through people have to realize that GDP at the end of the day is a total sum of

Transactions and transactions are gonna be happening faster and the pieces of the pie that make up public companies are middlemen

they're taking taxes on all of this stuff and so there'll be less taxes in terms of the

Friction that goes on and every year it'll get less and less

So I've always believed that the third wave of crypto which in LA wave turns means the most explosive one

Would happen

when

the agents came and I just want to leave people with one other part of Elliot wave if I'm right about that and

I believe AI is the durable part

So for those of you who are bearish AI where Bitcoin is gone to me is if AI

Collapses which to me is not going to happen AI is a real thing

it's gonna keep moving forward AI agents are a real thing and we're just keep making progress as

That goes for the end of the second wave

You need people believing that we're going back to the depths now the depths of FTX and all of that

This is not that there are real people buying real businesses at dirt-cheap prices right now

And I know some of the same people you do that are involved in this

These are really good people that have built businesses before that see value in this because they see the what the NFTs will be

Be as a positive thing the need for them why the blockchain is necessary in a world of deepfakes

All of these thematic things that I've written about in my sub stack for 18 months. They're still in place

So I think people just need to remember things change very quickly

micron was

$60 when you and I started this

It's now

1,200 and change things can change very quickly. Is that good?

It's a big move I would thank you very much George