In this episode, Robert draws a powerful parallel between today’s AI boom and a forgotten era of tech dominance. He explains why history doesn’t repeat, but it often rhymes. He breaks down the original “hyperscalers” of the dot-com era, the lessons they offer today’s giants, and the one key difference that could shape the next five years of growth. From infrastructure bottlenecks to energy constraints, he unpacks what’s driving today’s biggest tech bets and where smart capital is flowing now. Plus, a listener question on falling knives, technical trends, and why being “cheap” isn’t always a buy.