David Woo

…Once the AI bubble has burst, I'm telling you the US economy is going to hit a break and go into the recession, I would argue. And even a little tiny hint that, you know, the catback story is over, I'm telling you, Gnostics will be down 20% like in no time. There's no doubt in my mind, the US got its ass kicked, in Iran. To me, shocking, as an American, I'm ashamed. Trump decided to essentially concede defeat to the Chinese. This was actually the first proxy war between the United States and China. That if Iran got this far, it had a lot to do with China. I think oil will start hitting higher in about a week's time. I'm pleased to welcome back to the show , David Wu, CEO and founder of David Wu Unbound. On the agenda today, the unwinding of the tech trade, semiconductors fell dramatically this week, especially overseas in the Korea KOSPI Index. Meanwhile, we'll talk about the latest jobs numbers that came out and how markets reacted to a softer than expected jobs number. Also, we'll be talking about the fragile Middle East ceasefire and what's currently going on and whether or not WTI can stay low, we're relatively low at around $70, or we'll start shooting up anytime soon . David, welcome back to the show, good to see you. - Thanks for having me, Mike. - Right now, we have a situation where…From: this video · 6 claims mined from it

…of basically hiring. And when it comes to CapEx, that's really propelling the economy forward. So I would say that, you know, the gold rally yesterday was a bit premature because I don't think that, you know, it was a 2% rally, it was a big rally. You know, markets thinking, wow, maybe this is it. Maybe the labor market is gonna roll over and real yields are gonna collapse and the gold is gonna go up from here. I think it's much too early to actually make that case. In fact, I worry that real yields are gonna keep going higher until the AI bubble burst. And that's when gold is gonna get a real, real, basically help. In my view, gold's biggest problem is AI. Until the AI bubble has burst, I think gold is gonna continue to struggle. But my view is that there's a very good chance the AI bubble is gonna burst in the second half of the year. We have a scorecard for you of the calls you've made on my show. You've been on here twice now. Seven months ago, you said that the AI bubble is going to start bursting. You were short the NASDAQ. Actually, barring the big rally we had in April, you were pretty much right. It's starting to happen now. Now, the question is what happens to the other markets. You also called that Bitcoin is finished. That's what you said. That's clearly been correct so far. You said Kevin Warsh won't cut the police tunnel Trump. So far, I think markets would agree with you. So that's before Warsh was even…From: this video · 6 claims mined from it

…How is anthropic gonna ever monetize its research and development? Especially given the Chinese are massively basically cannibalizing basically the lower end models. So from that point of view already, like you think about as mythos is almost three months and then it's been still remains restricted access wholly. Then usually after three months, like any lead any LN has, it's completely vanished. All of a sudden you've got last week, the big news is that there are at least two Chinese startups in one Japanese startup to have developed AI models with the same capabilities of mythos. So you tell me, how can I get bullish about AI? When basically open AI is seriously in trouble. And in my view, anthropic is not too far behind. So I think from that point of view, again, this is the reason why I don't care about Micron and all these things. At the end of the day, 80% of all AI revenue goes through these two companies, anthropic and open AI. They're the ones who then pay the hyperscalers for computing power. And then the hyperscalers turn around to buy chips from Nvidia. And then Nvidia then goes out and basically buy chips from TSMC and TSMC by Applied Material ASML. But I didn't even date the money, the whole entire CapEx spending is being paid for by open AI…From: this video · 6 claims mined from it

…is that coming to this year, policy uncertainty had subsided. And then, you know, and then this whole AI story, and then the CapEx incentive, all of us look very attractive. And that's what's really going on. I think what you're seeing is pent up demand, okay, of basically hiring. And when it comes to CapEx, that's really propelling the economy forward. So I would say that, you know, the gold rally yesterday was a bit premature because I don't think that, you know, it was a 2% rally, it was a big rally. You know, markets thinking, wow, maybe this is it. Maybe the labor market is gonna roll over and real yields are gonna collapse and the gold is gonna go up from here. I think it's much too early to actually make that case. In fact, I worry that real yields are gonna keep going higher until the AI bubble burst. And that's when gold is gonna get a real, real, basically help. In my view, gold's biggest problem is AI. Until the AI bubble has burst, I think gold is gonna continue to struggle. But my view is that there's a very good chance the AI bubble is gonna burst in the second half of the year. We have a scorecard for you of the calls you've made on my show. You've been on here twice now. Seven months ago, you said that the AI bubble is going to start bursting. You were short the NASDAQ. Actually, barring the big rally we had in April, you were pretty much right. It's starting to happen now. Now, the question is what happens to…From: this video · 6 claims mined from it

…I mean, the Republicans right now, I think, you know, there's a very little chance the Republicans are gonna retain their majority in both houses. And I don't even care how many socialists are elected in New York. This is not gonna happen. I think midterm elections, it's all about turnout. Right now, the enthusiasm factor about Trump is so low right now. I just think that the more Democrats are going to turn out than the Republicans. This is why, you know, so from that point of view, there is no chance that any kind of meaningful crypto or Bitcoin legislation is going to be passed. I would say in the next two and a half years. And you can say, wow, is that bullish or bearish? Whatever it is, I definitely don't. I see very little upside for Bitcoin. The only thing that could happen is that, you know, again, if the AI bubble bursts, the Fed start cutting interest rates, maybe crypto becomes more interesting then. But even then it's not clear to me because if AI basically burst, a lot of retail investors are gonna be sitting on a lot of losses. And they're gonna be basically equating everything. Probably Bitcoin as well. So because at the end of the day, Bitcoins are sitting mainly with retail investors. So I would say that, you know, I mean, I'm not that excited about Bitcoin. I would say, you know, like if you're looking for an oversold asset, I think gold is a bit more interesting.…From: this video · 6 claims mined from it

…Once the AI bubble has burst, I'm telling you the US economy is going to hit a break and go into the recession, I would argue. And even a little tiny hint that, you know, the catback story is over, I'm telling you, Gnostics will be down 20% like in no time. There's no doubt in my mind, the US got its ass kicked, in Iran. To me, shocking, as an American, I'm ashamed. Trump decided to essentially concede defeat to the Chinese. This was actually the first proxy war between the United States and China. That if Iran got this far, it had a lot to do with China. I think oil will start hitting higher in about a week's time. I'm pleased to welcome back to the show , David Wu, CEO and founder of David Wu Unbound.…From: this video · 6 claims mined from it