Welcome to The Great Reset. I'm your host, Sean Morgan. I'm also the host of the Sean Morgan Report on AMP News. I'm here with Tobin Smith, formerly of Fox News, and the author of ChangeWave Investing and ChangeWave Investing 2.0.

And Tobin, I wanted to ask you about AI and AI mania. Is this not just a mania? Is it really part of what you would consider a change wave?

And before you answer that, can you tell us what is change wave investing?

Well, thank you, Sean.

Years ago, I have a twin brother, by the way, and he's always surprised that as poor a student I was in college, there was a couple

of things I really enjoyed, and one was calculus, and the other one was statistics, and that

really blew him away. So what I discovered was that I was not the only person in a world that

put the dots together, if you will, that says that when you have truly

transformative change and artificial intelligence at this point is not truly transformative

change yet, it's getting there. But when you get these type of transformations, and they could be

technological, they also could be political, They could be at the corporate level.

I mean, I'll use an example of GE stock.

We stock didn't do anything for 15 years.

They finally decided to transform the business and sell off at pieces.

Stocks up 150% in the last four months.

So it's not just technological change, but when you get an S curve of demand like this,

then it's it's a secular shift. It's not a cycle. It's not a, it's a very long cycle, if you

will. And there will be massive winners and massive losers. In Silicon Valley,

about every 15 years, there are these transformations. In the tech

business, we call it the changing of the tech stack. What is the enabling technology to make

the new stuff happen? And I just happen to be old enough that I cut my teeth, I cut my teeth basically on the dot-com mania,

which was a mania.

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