ZERP

“I think you end up with too many participants in a single field where you would have had whittling earlier. And so you end up, so that, that makes market expansion more difficult because there's three to five survivors instead of one or two.”

“I think he understood Zerp better than anyone. I think he is a better marketer than anyone in the history of the world, right? Like those are both absolutely true statements.”

“I think we're going to look at this period. It's going to be a byproduct of the age of excess. This is going to be like all these companies raised too much money at too high evaluation during the Zerp period. And therefore they couldn't go public. And frankly,…”

“ZERP built out a huge amount of biological infrastructure. And so now you can just rent labs for cheap. And so I think we're moving to a labless model where you do kind of AI, you know, in your office, and then send out things for testing to labs and maybe eve…”

“One of them was not selling a hundred percent of one or two positions when the prices were high.”

“A whole good generation of people grow up during ZERP. And, you know, now reality is biting. And so, yeah, of course.”

“If you didn't take money off the table during, you know, the ZERP era, there's something wrong. Let's just be clear about that.”

“I think that when we had Zerp, you probably could have charged a negative interest rate because you would have effectively been charging countries, third world developing countries, even first world countries that just wanted a protective mechanism against the…”

“Every time the government's supposed to do something on a one-off emergency basis, Like Zerp, it ends up becoming institutionalized.”

“So and I think we're going to remain in, go to year eight and year nine. That's my own personal opinion.”