The Ledger, every show

“I'll bet that in the next five years, we will see a major household name OEM fail or need a bailout due to not, you know, prices went up on them, but lack of access to a material, some kind of critical material.”

“It would not surprise me if when we, five years from now, hopefully we'll do this conference, and Chamath, you'll say to me, Jim, you know, I remember that deal that was the first of its kind that you did with DoD, And the government made money on you. The tax…”

“Pretty much all of the incremental steel and aluminum and commodities capacity in the world over the last decade has come online because, you know, China has led the way.”

“So outside of us, this entire supply chain is essentially domiciled in China.”

“So, so actually the nickel industry is dominated by essentially Glencore and Valle. Those two businesses, and I'm not, you know, I'm not pitching stocks, but as an investor, you know, we'll see what the next panel, those two businesses right now at today's com…”

“So what's going to happen is, I think you're going to see maybe an AOL Time Warner moment, and I don't mean it the negative way, but I think you could see a Tesla or someone like that buy upstream Outstream into these industries because ultimately downstream t…”

“We're a hundred percent of the American industry.”

“The future of warfare, Is physical AI, right? Robots and drones.”

“Interestingly, about 80% of the aluminum and 80, 80% of the steel production in China is done with coal.”

“When we think about the past of the fossil fuel driving geopolitical gamesmanship and power in the world, the future is about minerals.”

“This is NDPR. This is the stuff that we make, the input into magnetics. You can see there's a huge deficit that is looming.”

“There is going to be a big, beautiful bull market in real stuff, and it is just beginning”

“Some good source that I utilize estimated that we probably need on the order of 40 to 50 copper and nickel projects over the next couple decades, so call it roughly two hundred billion dollars of capex to satisfy the demand for electrification that we have ove…”

“And so these assets, this is about two billion dollars of replacement costs”

“We're now doing approximately four hundred and fifty million of run rate EBITDA today.”

“And so there may be, that may be an example of a solution, but that'll take five to 10 years.”

“That's a great question, and that's the challenge, is that it takes, to get any of these things, it takes a decade, right?”

“Four of the top 10 OEMs are Chinese, by global battery electric share.”

“Just in the content of copper, nickel, lithium, and then what I focus on, rare earths and some of these other things there's seven times as much content.”

“There were executive orders on the rare earth magnetics industry specifically, both in the Trump administration and in the Biden administration.”