Raoul Pal(@RaoulGMI):Everyones asking the same questions this week... Is AI a bubble, is the money just going round in circles, is this correction the start of the end... All of it misses something crucial.. which is the simple fact that none of the players in this race can stop. Intelligence per unit of energy is doubling roughly every 4.5 months, so if Google slows its buildout for a year, Microsoft ends up three years ahead... or pick any competitor you like. Whoever pauses is out of the most important technology in human history, and thats not coming back. This is the greatest discovery weve ever made and also the last one, because everything after this gets discovered by AI. Nobody is stepping off that race, they cant.

2026.11.12 01:04

Everyones asking the same questions this week... Is AI a bubble, is the money just going round in circles, is this correction the start of the end... All of it misses something crucial.. which is the simple fact that none of the players in this race can stop. Intelligence per unit of energy is doubling roughly every 4.5 months, so if Google slows its buildout for a year, Microsoft ends up three years ahead... or pick any competitor you like. Whoever pauses is out of the most important technology in human history, and thats not coming back. This is the greatest discovery weve ever made and also the last one, because everything after this gets discovered by AI. Nobody is stepping off that race, they cant.