The speaker expects memory businesses to perform well, but argues memory stocks should not rise tenfold if AI demand implies a drastic economy-wide transformation that compresses valuations across the market.

“two or three times earnings and it's like well if you're really ai pilled everything in the economy should trade at like two or three times earnings um and if you're not ai pilled then sure they're they're over earning um so it's sort of like a an argument for why like i think memory is going to do great but you know memory memory stocks shouldn't you know 10x or whatever again because if they were if we're in the market where there's that much demand for memory which means ai's”

“cause this drastic change in the economy then everything should trade at like two or three x multiples and the stock market should fucking crash”