I know there's been a lot of hype on X

about robotics, but guys, you guys

haven't even really seen anything yet.

The next couple years are going to get

pretty exciting. I still think that we

are going to have deployment challenges,

and people's estimates for how many

robots we will see out in the world

doing things are way, way, way too

aggressive. I think the deployment

scaling is going to be exceptionally

difficult with full bipedal humanoids. I

think we'll see a lot of wheeled

humanoids that will start to get

deployed maybe at some point starting

next year, but bipedal deployment,

there's just too many unknowns, too many

safety issues. Going from five robots in

a warehouse to 50 robots could take a

long time. Going from five to 50 to 500

on a site, forget it, guys. We're

talking about years. So, again, this is

where some of the CEOs are like not

being, I think, truly transparent with

the investor base. I think deployment is

going to be slow, but it will happen.

The TAM is still the biggest TAM that

we've ever seen in human history, and I

have, I would say, more confidence today

than I've ever had that these robots are

going to be able to deliver the goods in

terms of what we think they can do.