Biden chaos, Soft landing secured? AI sentiment turns bearish, French elections

2579.792 - 2600.232 Chamath Palihapitiya

And just to put a fine point on this, if that's 100 million of management fees, the reality is that that's actually $2 billion of value, right? Because these management companies trade at, call it, say 20 odd times. So what's so interesting about this is like, you take 100 million of management fee, that's worth 2 billion of enterprise value, you dump it into these chips and cash,