Full Video Transcript Below:
CAROLINE WOODS: I think the big question at this point is how much higher can this market run. Is this rally sustainable? What do you think?
REBECCA WALSER: So Alan Greenspan gave his irrational exuberance speech in 1996, and we didn’t get the.com crash until like early 2000 to 2002. So it preceded that by 4 years. I would say that I like to see a cooling off because otherwise it can feel it start to feel like with these high PE ratios, it can start to feel like it’s irrational, like we haven’t yet monetized, we haven’t yet put into actual revenue making, you know, applications. I for the average Joe, besides ChatGPT and things like that. People are leveraging. It’s not yet monetized. This is all investment. This is all R&D. This is all about what is coming, coming, coming. Now there’s a lot of stuff that’s coming, Caroline. But at the same time it’s not here yet. And so until it monetizes, the revenue doesn’t follow and it’s just expectation. And so that’s where the rubber meets the road. And that’s what happened with.com, when we realized that pets.com didn’t even have an e-commerce way to check out a bag of dog food, but it was with dollar, billion. That was kind of a problem. So that’s going to be what we experience now. As long as investors know that as you move to New technology, the monetization phase is always rocky and there’s always pullbacks. Expect that, prepare for that and stay into your mind. I am going in for the long haul here. Hell or high water. I’m staying the course because if you try to time and get out and say, Oh, no, like what happened in April. How many people got out. Because, you know, Wall Street was telling Main Street tariffs are going to have a massive impact. Get out. So many people sold on that news and they missed the up rally. They missed that recovery. And that’s a problem. So just understand that it is Rocky right now without monetization PE’s are very historically high.
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