I spoke with @DivesTech about the AI trade and why it will be bigger than everyone thinks. He explains where value is accruing, why Dario’s warnings about AI are wrong, the White House AI meeting, the importance of sovereign AI, and his new Ives Ultra Fund. YouTube: Apple: Spotify: TIMESTAMPS: 0:00 - Intro 1:12 - Where's the value in the AI trade? 2:32 - Dario's AI warning & regulatory capture 5:15 - Are OpenAI & Anthropic in trouble? 11:04 - Trump's White House AI meeting 13:51 - Open source vs closed source AI 15:32 - Token price war & the Anthropic IPO 22:33 - How to invest in the AI trade 25:04 - Personal AI agents & consumer AI 26:31 - Why tech is ignoring macro headwinds 30:36 - The Ives Ultra AI Fund 33:21 - Data, sovereign AI & the future of work