Security program on spreadsheets. New regulations piling up? An audit dread. It's time for Vanta.

Vanta automates security and compliance, brings evidence into one place and cuts audit prep by 82%. Less manual work, clear a visibility, faster deals, zero chaos.

Call it compliance or call it calm compliance. Get it. Join the 15,000 companies

using Vanta to prove trust. Get started at vanta.com slash calm. I just think Bitcoin right now,

you have to watch it. And if we start to trade higher and I'll give everyone a level,

if we trade above 76,000 and at the same time we see Ethereum above 2,400, I believe that is the beginning of a move that will be sustainable this year because I don't think we're going to have a recession. I think inflation is going to stay elevated. And I think people are going to need to find something that is making money in a world where the S&P is not moving anywhere.

What's going on, guys?

In today's conversation with Jordie Visser, we go over all of the latest inflation data, what's going on with scarcity trade, abundance trade, how he's thinking about the difference between software stocks and AI stocks, how he's seeing Bitcoin and why it's starting to perform pretty well. and he's going to drop some alpha, some data that he went and he pulled as to when Bitcoin does best and why right now may be a time to start paying attention. All that much more. My conversation with Jordi Visser. Jordi, the Iran war seems to have this ceasefire and markets are rallying. Everyone seems to be very excited that this thing is going to be over. I think maybe you have a little bit more tempered expectation.

What's going on right now?

Well, I think rather than get into the focus of the direction, I think every week I say to people, this is going to be a continuous year of rotation just because of how mispositioned people

are for artificial intelligence.

So if you go back to the end of February just before the war started, you know, everything

that we talked about was hardware, semiconductors, and commodities on the long side, shortages,

scarcity.

And then on the short side were the negative news, which is really about software, private credit,

and that whole, those things haven't bounced at all.

In fact, software has made new lows and has been destroyed the last three days.

And it's because, again, of AI progress.

So, you know, I think because of the headlines,

people get caught in this thing. Believe it or not, we finished yesterday with the S&P unchanged for

the year. And as I've said repeatedly, and we'll continue to say, there is no recession coming.

And that's because the AI demand is massive. At the same time, the new news that has happened since before the war that has not changed,

...