So the role of AI at ARCA is not to replace the advisor, it is to replace all of the work around the advisor. So our clients don't really interface with AI directly.

The analysis part is fully automated, but they're unable to actually execute any sort of money movement or liquidation automatically. We have a very deep integration with our custodian that actually gives us APIs to be able to do that.

The analysis part is fully automated, but they're unable to actually execute any sort of money movement or liquidation automatically. We have a very deep integration with our custodian that actually gives us APIs to be able to do that.

Yeah, so all of our safety restrictions are fully deterministic and they take the decision making off the agent's hands.

They're a proxy for a certain part of the market at large. The financial aspect of this story we're going to see play out, in my opinion, faster than the technological side.

AI is not issuing debt in a vacuum. There are other verticals that need to tap financing too. And there is a finite amount, right.

But at some point in the future, one of the six recession red flags is you find the over investment in every cycle and you focus on that cycle because when demand slows down, there's way too much capacity.

Every economic cycle has an overinvestment. And when that overinvestment fades out, then you have too much supply of that sector, and then you have to lay off people.

This will change in the future because I think as spot markets move onto hyperliquid, you can imagine a system where the Oracle is actually no longer published, but rather derived from onchain properties.

But like, yeah, like, it's, it's tough and tokenomics are not easy. There's a lot of stakeholders, there's a lot of times people mistake the token for the product.

And a lot of times the tokens that we attach to things. It's just like a speculative Ponzi or something that hasn't demonstrated demand. And it's mostly just a narrative or whatever. Right. A lot of that has been what crypto is.