 Welcome, folks, not Tom O'Brien, Jacob Shoup, happy to be with you all. Give us a call, send me an email, jacobatfnn.com. Let's first look at the end of the bear market. Apparently, this is the largest, excuse me, the longest bear market since the 1940s. So we've spoken about these are major companies that are driving this, right? And we have jobless claims increasing. So what's going on? Why is this the case? And I came across this interesting chart. And this looks at basically Morgan Stanley's equity index and then excess liquidity. And this is a pretty good indicator of future performance on the MSCI. So the idea is there's still a ton of excess liquidity. It started to rise from depressed levels as inflation and growth are falling and that frees up the asset supporting liquidity. And there is just, I've said, there's just a lot of money going around here. So it'll be interesting how it comes. I mean, there really is like this divergence, right, in the general kind of economy versus how the market's performing. So it'll be interesting to see how that kind of fleshes with each other, excuse me, fleshes with each other. So all right, one of the things I wanted to speak about today, we spoke a little bit about Cathy Woods buying Coinbase the other day after news came out that SEC was pursuing them in finance as well. But she also purchased today a bunch of shares of Block. And if you remember from, I think probably about a month and a half ago, maybe a little bit over, Hindenburg released that article. What I said at the time is that, okay, so there might be some issues, right, regarding Block's reporting of unique accounts when in reality they're probably accounts operated by the same person, okay? So you have like doubling essentially. But one of the other things that Hindenburg really hinged on was it being used for like illicit purposes, I guess, certain kind of black market activities. But I don't think investors generally care about that kind of stuff. And this is really what I expected to see. It really crashed down below this level kind of after those reports here. Kind of move back down. And Cathy Woods, I think, has a positive outlook on it. It'll be interesting to see if we can get back to that 75 level. But Cathy, if you're listening, please call in and tell me your thought process on everything you're doing. Because it's super interesting, right? Finance, some more stuff going on. SEC said that CZ, which is the CEO, Cheng Peng Zhao, said that he redirected 12 billion in funds, okay? And so CZ responding to that, right? And there really is this kind of big extended kind of conflict, right? With the SEC and these crypto brokerage firms. And CZ says that's not even possible because we only had at max to his knowledge 2 billion in user funds. So how could he switch, excuse me, redirect 12 billion? It's gonna be really interesting to see. I've seen CZ speak and he's the CEO of Binance. And he's a pretty sharp guy, and he always comes prepared. I'm sure we'll have some kind of hearings about this in the future. And that will be something super important to watch. But again, going back to Coinbase, Cathy Woods purchased 21 million. So, and she's still sticking with that $1 million valuation for Bitcoin, which is pretty big off of what we're at currently. So, Palantir, again, we were speaking about a little while ago. All the big AI people, they signed a paper, right? The AI developers that we need to put a halt on AI development. Just until we can develop kind of a framework of how we're gonna do it and make sure that the impact on the economy and really to the human condition is not so extreme. Well, Alex Karp, and he always has something fun to say. He says that this is occurring because they don't have any product ready. Which I think the market liked a little bit. Palantir essentially is gonna start providing AI to the military and they are already, but this is gonna just get far, far more complex. And I was trying to find it for you guys, but I just couldn't locate it online, or excuse me, on YouTube. But it was this kind of mock battle that they were doing, the military, and they were using drone footage and connecting it up to an AI. Gave the AI the kind of information of force size, what the capabilities are of the attacking force, which was supposed to represent the US. And the AI came out with three or four plans of how they're gonna go ahead and approach the certain target. And it was just really insane to watch, right? I mean, this is gonna really change how things are done. I was talking to Best Friend about it a little bit and we just both agreed. It is just a pretty insane kind of deal. So, looking a little bit here and going back that letter with Tesla CEO and obviously Steve Wozniak and a bunch of other really prominent and impactful tech figures, signed this is only over 31,000 signatures. Carp said, people have nothing to offer when a study AI, but by taking a pause, this could lead to adversaries stealing a lead and not only commercial applications, but also military applications. It says to him studying this and allowing other people to win both on commercial areas and on the battlefield is a quote, really bad strategy, right? And this puts us as a society in a pretty difficult spot. I don't think that analysis is really wrong, right? And he likens it essentially to the Cold War arms race, which I also think is probably a pretty apt parallel, right? So it'll be interesting to see which way we take it. Because certainly other entities in countries that are investigating this are not going to agree, at least the chance is pretty low that they would agree to also halt AI development. So Palantir's angle is like, no, let's just chug full force ahead. And we'll see this will probably be decent for their equity, but we'll wait to see. So Tesla, which is really pumping us up today, and we're about to go on break, so we'll get back to it. But GM is going to use their charging network, and that's going to join forward in leveraging the EV leaders tech. And this is huge. One of the things, and again, we'll talk a little bit more about it when we get back, but when the pot stocks were popping, everyone wanted to get in. Everything was so inflated price-wise anyways, at least regarding the value of that equity, of those equities. And the goal is you want to get into things that are kind of related, right? But you don't want to get so into it. So looking at these kind of subsidiaries, but kind of like secondary companies that will help prop up the EV market, obviously Tesla is taking it with the charging stations. But it'd be interesting to look in the market in general for things that aren't directly related regarding the production of EVs, but help support them. Folks, stay tuned. We'll be right back.