2008 vs 2026: The Same Dominoes Are Falling

In March [music] of this year, Open AAI closed the largest private funding ground [music] in history, 122 billion at a valuation of $852 [music] billion. The company that set that record has never earned a profit. It loses tens of billions of dollars every single year. And yet the biggest names in American [music] technology,

think Microsoft, Oracle, Google, Amazon, are counting on it and companies just like it for roughly $2.1 trillion in promised future payments. $2 trillion promised by companies that don't make any money. Now, here's why this matters [music] to you. If your retirement sits in an index fund, nearly half of your savings is riding [music]

on those promises being kept, 2 trillion owed by companies who run a loss every single year. And this month, those promises [music] came under attack from Beijing. A Chinese lab just released a model, an AI model, good enough and cheap enough that Washington is now debating an emergency ban on Chinese AI. The battle between American and Chinese

AI is no longer about bragging rights. It's about whether a [music] $2 trillion structure can stay standing. Now, Wall Street calls those promises locked in future demand. But I'm going to show you what they actually are because we have built this exact machine before and it broke during a year that nobody was

paying attention. Everybody remembers 2008. [music] Almost nobody remembers 2006. 2008 [music] is the year with the name Lehman Brothers collapsed. Markets fell apart. Governments rescued banks. But by the time any of that happened, the outcome had already been decided. [music] The year that actually mattered was 2006. That was the year the whole