At the margin, would you prefer to be a SpaceX investor taking 20% dilution here or a Twitter

slash X.a.I investor rolling into the largest market cap private company on the planet, maybe six

months before it goes public?

What you just saw is the rehabilitation of the IPO, and I'm going to call it the end of stay

private forever. Elon operates like the Marines. No investor left behind. of the IPO, and I'm going to call it the end of State Private Forever.

Elon operates like the Marines, no investor left behind.

Compute and revenue have a one-to-one correlation.

So as long as that holds, it makes sense to consume every single penny of capital on all of

planet Earth. For simplistic folks for founders, I say inference is the new sales and

marketing. The good news is I believe in a balanced scorecard. The bad news is revenue growth rate

is 95% of the balance. You don't see a bottom until these things are at free cash flow multiples,

net of dilution. And when that happens, that's your bottom. What a shitty time. China is doing the same

thing, so we have to do it. We have to guarantee zero percent financing for all data centers.

It's, we'll get all our money back. We kept the airlines flying when things were tough during

COVID. We'll keep the data centers flying as well. We underwrite bigness and we underwrite

growth. And this is bigly and grotly.

But before we dive into the show today, I run the 20 VC fund and I get this question from founders all the time.

Oh, Harry, I can't find a good.com. Do you have a good hookup?

Well, let me tell you now, the answer is always going to be no.

I don't have a guy or a gal for that.

I do have a recommendation though. If you're building a tech startup, get a dot-tech domain.

Tech startup, dot-tech domain. It could not be more obvious. As an investor, I appreciate founders

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