Raoul Pal
Raoul Pal|10月 02, 2026 02:03
Data centres are going to eat all the electricity and you'll be left eating stale bread in the street, begging for the water they use... Thats the political narrative building right now and every part of that gets the direction wrong. Agents are billions of new economic participants added on top of us. They run 24/7 at silicon speed, and every one of them is demanding something... data, compute, storage, energy, tokens. Demand is about to go through the roof. That is the Economic Singularity... synthetic labour removing the old limits on growth, and GDP as we measure it stops meaning anything. The real fear underneath is that somebody else makes all the money. Except for the first time in history, unlike the internet, the substrate is ownable by everybody. All that activity has to coordinate on the L1s. So own the fucking rails.
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