Amazon is preferred over Meta for capital allocation due to more plausible capex justification.

Um, so obviously when you talk about companies like Meta, by now it would be one of them, but before that it was primarily Amazon, it was Oracle, you know, a company that I didn't necessarily think about it.

Um, and then you have Google and of course you also have Microsoft.

then Amazon is partnered with Enthropic

I think I mentioned it to you earlier but if you think about what Amazon did with AWS in the beginning a lot of people said you know the problem with this is you have highly profitable company a high margin business now suddenly you have this huge capex right this huge amount of money that you for a very long time basically without a stop have to invest in the business and people were saying this is probably a lower margin business why would I want to own a business that has lower margins instead of higher margins

but obviously what you need to compare is the absolute amount of money that you can earn and also deploy If you can deploy tens and hundreds of billions of dollars into a certain segment in your company and you can earn a 10% return on that could be much more money than you know invest in a capital light business model where you make a higher return a higher margin generally but you can deploy significantly fewer capital.

And one of my issues with Meta is that their capex spinning just seems so much more speculative than Alphabet and Amazon where they have at least a more plausible explanation for what they'll do with all this computing power that they're investing in.

And honestly, I'd be more excited probably to accumulate shares in Alphabet or or Amazon with any incremental capital we invest or some of the other great businesses we already own, which is not to say I don't think Meta won't do incredibly well.