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[Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] In the past year, in 2025, many unexpected events have occurred. This year, we may have to move forward for another 11 months. We may encounter events that we did not expect or thought would not happen again. How should we prepare to seize investment opportunities or various opportunities in this world? We must know investment assets. I will use the term "multiglobal asset," meaning to know every type of asset and its true value. Therefore, what we see now, we should not see it as an economic crisis, but as a global system transition. We will set different goals. If what we see now is a global system transition, then the first thing in a global system transition is who will emerge as the leader of the new global system. Or there will be no single leader, but a collective consensus. This is another perspective, and it will turn out differently. Will the old be surpassed, or will the old maintain stability as before? Or will it become multilateral, meaning everyone has the same opinion in the same direction, a consensus? Therefore, in this case, it can go in 3 directions. When it can go in 3 directions, long-term investment is not yet the answer in terms of investing in stocks or bonds, because both stocks and bonds have interest rates as the problem. And the rate of non-performing loans in banks worldwide is also increasing. Therefore, what we will do to release this risk is, instead of keeping all our money in the bank alone, we should divide our cash into Money Market Funds. If interest rates rise, Money Market Funds will also increase their interest rates first. This is a Money Market Fund within the country, which is sold by every asset management company or every bank. You can buy it, but banks have to wait for approval for savings account interest rates, which don't increase much. But if we put it into these bonds, like Money Market Funds, they will increase first. If we want to increase the risk a little, we can put it into Money Market Funds in Swiss Francs. The risk here is the exchange rate. Currently, the risk is in assets called "back securities" within them. It is also in Swiss Franc Money Market Funds. This is another perspective. We don't have to go to the US side, because going to the US has risks, as you have experienced for the past 2 years. You will see that it is 5% real, 4% real, but the currency has dropped by more than 10%, which will result in exchange rate losses. This is something we need to understand. As for investing in stocks, this year is the year we need to talk about new industries in this world, because we are entering new industries. Old industries, we can see they are just zombies. There is no opportunity for growth. Therefore, our previous understanding of the stock market and capital market must be changed. For example, we are talking about energy companies. Previously, energy could go all out, but now energy is challenged by alternative energy, not just oil. That is no longer the answer. So, should we invest in electricity? Electricity is not the answer immediately, because oil still has a share, but the usage volume increases, so it must increase. This is a perspective we need to understand. So, should we invest in semiconductors? Companies have risen to values of trillions, trillions of dollars in market capitalization. The question is, the world GDP is only 90 trillion. This is 1, 2, 3, 4 of the world GDP. Will it go that far again? It's not like that. It may have high profits, but it won't surpass world GDP, right? But then there will be new companies that are emerging, which we may not have heard of or known before. They are rising, and they are not very large companies yet, but they are preparing to become large companies in the future. These adjustments are being added. How can we identify those companies? Like finding Facebook in the past, or Tesla in the past? We need to see that the structure of the global order and system must be challenged and adjusted. First, the competition between China and America will become increasingly intense. But what happened at the end of 2025 is that Huawei, together with the Chinese government, said that China has its own technological path. We no longer need to rely on the West. We will create our own path. Therefore, what they announced is not a coincidence, but a strategy for 2015, which was a strategy to move towards a new world around 2025, which was last year. And when the time came, they announced that this year marks the entry into the new world of technology. Therefore, we must look at what the new world will be driven by. We will see that China will be driven by Smart Cities, which they have been doing for about 7-8 years. They started with what is called the "kingdom of cameras." And behind these cameras, there is a background. So, let's look at who makes the cameras. Yes. Right? We see that all cameras must have sellers. Right? How to do it? I went to scout companies. Yes. And took pictures. Oh, there are 2 companies: HK Vision and Huawei. And we see that these cameras have been around for over 10 years. Now they have released new cameras with a resolution of up to 8K. Yes. This means that the existing cameras, which are Full HD, will have to be upgraded to 8K, because the dimension for night vision and other things will change, it will be clearer, right? So, we will see that if so, these cameras that we see all over China must be changed. There must be new sales, right? So, we look at these companies that make them. And we look further into the cameras. They can identify up to 200 people, or 200 cars, or 200 motorcycles in one frame, their license plates, their ID cards. Yes. Real-time in one frame. For example, in one minute, there are 120 frames. Right? If it's Full HD, then in 120 frames, it can identify up to 200 in each frame. And let's see which companies make AI. Mmm. Right? They must make real-time AI for all of China. And we have seen that Huawei is now using this system for Smart Airports. Yes. And they are collaborating with Saudi Arabia to build smart cities. Therefore, there must be increased and larger sales. I am giving an example of cameras. Or cars. If we talked about 5 years ago, we would have seen Chinese cars all over Thai roads, right? At first, I thought there wouldn't be so many, but now wherever you look, it's true. All Chinese cars, right? And the technology is advanced, and new technologies emerge every year. Right? And they use a strategy to make cars cheap. The reason for making cars cheap is because technology is advancing by leaps and bounds. Yes. Therefore, they will let people buy new cars in the next 3-4 years without worrying about the car's value. If it's cheap, it can be considered zero. Oh. Right? This will allow technology to circulate continuously because new customers will be added every year from those who are the first group to come in. We have seen the automotive industry, and how many components are in a car, sensors, GPS, communication with the city. We will see that these are linked to Smart Cities and the planning of city systems. Therefore, if we understand the journey of the global system, these opportunities are everywhere. We are not familiar with these companies. Therefore, we say that a company has been around for 70-80 years, that is the third industrial era. Mmm. But we are in the fourth industrial era, which is moving towards digital systems to reach quantum. Yes. So, let's look at which companies are doing quantum. What does the quantum system do? We will look for quantum companies, most of which we won't know, as there are only 4-5 companies, and nearly 40 more startups. Which are all small companies. But we will go back to AI companies. We can't afford to buy OpenAI. Can we get an exit? Is it too expensive already? Yes, it's too expensive. [Laughter] And what about our country? Do we have new world stocks? Our country is quite difficult because they are not transforming. Yes. I'm not talking about the government's vision. I'm talking about the business owners' vision. Transforming companies into technology companies or into new industries is quite rare. Yes. This is scary. Where is the fear? The fear is that China does everything from upstream to downstream, reaching our hands. If one day we don't have it, they will replace us, and we will collapse without realizing it. This is currently happening in many sectors, and the most affected will be retail and the automotive industry, which are being replaced without us realizing it and without being able to find a way out of this situation. Those who can truly transform right now in Thailand must be the banking industry. Yes. Which is the most advanced. Besides that, there are communication groups. Two main groups are transforming, but it's not easy. And we have seen the movement of major generals to work on data center industries, smart city industries, and so on. This is a trend that is very rare and very scary if China enters so rapidly. Yes. So, in Thailand, the groups that are likely to transform into new technologies and new world stocks are the banking and communication groups. These two groups. These two groups lead. Lead. Yes. And they must be large ones that are ready, right? I think today the world offers opportunities to both large and small people. If small people come in and show their potential, they will have the capital to support it. But in Thailand, there is one problem: companies that set themselves up as startups only solve small pain points. Yes. And they cannot turn them into a global scale. Therefore, new companies, we will see that it is quite difficult to reach tens of billions, as they only capture small markets. But why did America become so big? Imagine when OpenAI opened ChatGPT, the download count reached 100 million downloads worldwide, and now it has reached 700-800 million downloads worldwide, right? So, it has become a global scale, accessible to everyone. You just need to download the app. The world is in our hands, which is our mobile phone. Therefore, if we think in a system called global scale, there will be ready capital. But if we think about solving small pain points, the scale will be very small and not worth the investment. This is the problem I see why startups in our country have difficulty moving forward. Yes. So, in choosing stocks in 2026, we will not generalize. Not generalize. And we will have to choose by individual stock and by country. Yes. Can investing in country indices still be done in 2026? Oh. The US side, S&P 500, or other sides where the index has a lot of potential to grow. Currently, for indices, I don't want to generalize. Yes. If you buy the S&P 500, there are about 20 companies that drive the index up, but there are about 480 companies that do not drive the index up. May push down or may be on the side. May even drag them down. For example, if we go into new technology industries, Artificial Intelligence industries, etc., we can also protect ourselves from risk by buying with dollar-cost averaging. Mmm. Ah, in that, we don't know what will happen, so we save monthly and so on. But another industry, which I have put aside. Yes. For example, the aerospace industry, which is being discussed. Oh. This industry, when a company grows, it grows in two ways: growth by capital or growth by revenue. If it grows by capital, it must expect revenue to come in, right? But in some industries, it grows by capital. Yes. But revenue does not follow. Therefore, be careful that one day there will be a correction because revenue cannot keep up, and no one can increase capital for them all the time. Therefore, on the US side, in which industries should new world stocks benefit? Professor? Currently, it is separated. For example, the Artificial Intelligence or AI industry is separated. The industries we see now and are about to grow a lot are that this year we will enter what is called the century of Humanoid Robots. Yes. Today, we don't see humanoid robots in our daily lives yet. We only see them in clips and other things. But from now on, in the next 15 years, humanoid robots will enter our daily lives. Mmm. In one form or another. Yes. To enter our lives. Therefore, industries like robotics, humanoid robots, etc., are about to become another green field that will grow. But we must also be careful about revenue, because research costs are quite enormous. Yes. Earlier, we talked about the new world and the new world leaders, which may be in 3 directions. Yes. Professor, which leader do you give the highest weight to? I think currently, the competition between America and the East is becoming increasingly intense, and it is a competition where the United States is at a disadvantage. Yes. Let me go back a bit. Yes. China and the United States are like they don't get along, but they cannot do without each other. Yes. They cannot do without each other because when China opened its doors, there was cheap labor, and large industries in America moved their production bases to China, right? This led to what happened in America: the relocation of bases and increased unemployment because companies wanted cheap products to sell in the United States to reduce costs. It turned out that what has happened over time is that no one thought China would become a partner that manufactures everything in the world and sells it to America and globally. China ended up selling to America, and Americans couldn't produce. So, Americans had to buy Chinese goods. Yes. This made China a wealthy country from sales, contract manufacturing, and establishing its own companies in various forms, until it built its own brands. Now, as it grew larger, from selling only a few hundred million dollars, it has reached hundreds of billions. The US dollars that China sold, made profits, and accumulated, they didn't know what to do with them, so they lent them to the United States by buying American bonds. Mmm. Therefore, it goes in a cycle where Americans continuously incur debt. Yes. And buy Chinese goods. After buying Chinese goods, China becomes increasingly wealthy. So, they lend to America and buy their own goods again. Yes. So, if America doesn't buy Chinese goods, China won't lend. Yes. And if America doesn't buy Chinese goods, factories in China are at risk of bankruptcy. Yes. And we see this picture becoming clearer, right? It seems contradictory, but they cannot do without each other. Cannot do without each other. Yes. Yes. Therefore, after Mr. Trump's previous term, including Mr. Biden, who came and started a conflict with China. Yes. As a result of this conflict, when the COVID pandemic occurred, they saw that America couldn't produce anything. If there was a lockdown, Americans would have no products of their own, right? Therefore, what America must do is move factories back to the country. Isn't that difficult? What they did was beyond imagination. What? How to make American goods expensive? Yes. Expensive enough to make factories move back to produce and be profitable. To make factories expensive, the first thing is to weaken their currency. Yes. Because those who lose from the weakening US dollar are the countries that lend to America. While America's debt is reduced due to its currency weakening, which is different from our country. If our currency weakens, our debt increases because we borrow from them. But America borrows from them in US dollars, and if the dollar weakens, they gain an advantage because others have to exchange more dollars. This is different from our country in 1997. So, when they weaken the dollar and impose high taxes, factories will start to reopen in America. But this is a long-term problem. They also look at the next step: if the future world, China is moving fast, so they must block China in every way. Yes. So, they block it by not sending high-level technology to China. Which, in the end, turned out to be detrimental to the United States. What does China do? China knows that if it remains tied to the United States, it will be doomed. Because if policies change overnight, factories will face disaster. This is why the Belt and Road Initiative came about. And they manage to trade with countries all over the world: the Middle East, India, Africa, and South America, to find alternative markets. Therefore, China can now be independent of the United States, but the United States cannot be independent of China, because China must buy American bonds. So, China did this by reducing its holdings of American bonds from $1.333 trillion in 2012, which was the highest after the hamburger crisis. Now, China has gradually reduced it to about $680 billion. Yes. This is why the US dollar has weakened, and China has used the money from selling to buy gold and accumulate it, causing the price of gold to increase. And it has expanded into countries around the world. And not on a small scale. They go on a scale of building cities, building smart metropolises. Currently, they are collaborating with, for example, the Emirates, Dubai, Saudi Arabia, trying to integrate technology into smarter cities. And in some European countries like Switzerland, and they are implementing communication systems for Kenya. This causes their products to be distributed and sell technology to Pakistan, Iran, and so on, trading continuously. So, China can go its own way. Yes. But America cannot. [Laughter] Yes. The path is narrowing. The path is narrowing, and they have to incur debt themselves because factories are not built overnight, right? This will be a major challenge that makes the United States quite difficult during this period. Yes. So, the future superpower may not be the United States anymore. There is a risk to the financial system. So, as we discussed earlier, how will the United States find a solution? It might be an extreme case. If it's an extreme case, like the US dollar against gold, $10,000 or somewhere between that and $40,000. There will be this. I must say that I am not saying that the dollar or gold price will reach $40,000, but there have been cases, and I will cite this case. It's a comparison. A comparison with the past. I will say I aim for $40,000. This is not the case, let's agree first. And this is an extreme case. If Mr. Trump or the next president uses this method, or declares war and transfers all damages abroad. Yes. Similar to what Britain and France did before World War I and II, by shifting their debt to the public and selling it abroad as investments and other things. Yes. Globally, who is the most struggling country this year? It should be the United States, right? I would say the United States and European countries. Yes. Recently, Europe has had 2-3 interesting things happening. For example, fiscal policies of each European country, whether it's France, Italy, or Spain, they are starting to find no way out. Another thing seen is that some governments are starting to issue war bonds. And recently, last week, at the end of January, there were discussions to establish a "War Bank" by raising funds from European countries or NATO to support the war. This is like they have to prepare for something to cause a major war, or not? This is about when the time comes and they cannot find a solution to the problem. Yes. Yes. What about Thailand, Professor? Are you worried about the economy? Thailand lacks a real national strategist. The country has been driven by the private sector as the leader in various economic aspects for the past 30 years. Currently, the private sector itself is confused about where to go. We are entirely a contract manufacturing country, and domestic consumption is not that large. And we think about business incorrectly within our own country, which prevents business scale from growing. It doesn't grow like China, it doesn't grow like America. This is the problem that both the government and the private sector are not moving into the area of new technology and new industries. New industries have the advantage of high profits or margins. For example, look at NVIDIA, with a margin of 53%. We don't have such industries. This is the pain point in our country. And if we want to build a data center industry in our country, it requires two things in large quantities: electricity and water. Some years we have a lot of water, some years we have little. Too much is too much, too little is none. How to balance this for the data center industry? This is a major vision issue for both the private sector and the government, where no one is driving or strategizing. And what's worse is that we don't have an education system to support China's 2015 policy. One of them is that for any technology in the world, China must have a faculty to teach it in universities. And the faculty that is established must be ranked in the top 5 in every faculty that is a key technology for the future, whether it's stem cells, technology engineers, aerospace, or anything else. We see the latest results: two universities have surpassed Harvard to rank first and second, and Harvard has dropped to third. But that is a strategy planned since 2015. Currently, our teaching methods are still using books from my time, or my generation's time, or even the generation of my children or grandchildren. They are still studying from the same old books. This is what prevents people from seeing or creating their own future. This is why talented Thais go to grow in America, in England, or abroad. Yes. Yes. What about the opportunities for the private sector, or the battlefield they face? In the current battlefield, we will only have opportunities if a major war breaks out. If a major war breaks out, it will cause problems with food production. Our country has quite sufficient food production, and everyone can do it. This may provide opportunities in the medium or short term if there is a war. We see that Singapore and China have prepared food reserves for at least 5 or 10 years. And there are still many countries that are not ready. Therefore, this will be an opportunity because the battlefield of war will not be like in the past. This is what Thailand needs to prepare for when changes occur. Another very important change is that the world of technology in this era has changed, both in the US and China. What is the current situation, and how will it pave the way for future investment for investors? In the United States, we must see new industries. Yes. This is another reason why we should not invest in indices, because indices have many old companies. The leaders from now on will be the entry into the era of AI, which will go beyond AGI. Ah. AI means Artificial Super Intelligent. Therefore, today we have the opportunity to use ChatGPT, we have the opportunity to use it, we have the opportunity to use many things. And there are many companies. Yes. But know that this is not AI. It is the infrastructure of AI that must exist. And another thing, in the case of designing images, where AI creates images, Jensen Huang said that if in the case of images, people can perform any action, such as bending down to pick up a glass and drink it, then it is equivalent to allowing robots or androids to do the same. Therefore, it is training AI on various images, and it uses the same algorithm. If one day we see Tesla, Tesla may no longer be a car manufacturing company. Tesla may be a company with an electric car manufacturing department that is developing towards self-driving cars. On the US side, we will see that America is developing quite slowly, which is why Elon Musk set up a factory in China, because China has a system for connectivity with satellites and what is called this, to control these self-driving cars perfectly. This is why he set it up there and made the AI learning faster, which will benefit Tesla. But what Tesla is going to do next is transfer human thoughts by brain command, which may take some time for the Neuralink project. But what is interesting is the development of their Humanoid Robots, called the Optimus Project. The Optimus Project will be launched in mid-year, and the world may be shaken by how perfectly the Optimus Project can perform. Compared to the Optimus Project, it is Unit, a company from China. It will be a robot that works more in the industrial sector. Normally, factories use robotic arms, but this will use robots and will enter our daily lives. We may see robots walking on the streets, being housekeepers, caregivers. Therefore, the growth opportunity for Humanoid Robots will be quite rapid from now on. And another part that will grow very rapidly is the technology of self-driving cars in Stage 4 and Stage 5. Stage 4 is sitting behind the steering wheel but not driving. Both America and China are competing in this, but China is already moving to Stage 5, which is a new form of car, without a steering wheel. Stage 5 means no steering wheel, no driver. This has led to 2-3 companies that produce them, and they are startups that have already IPO'd. These companies will be new companies like Pony AI and Zuk. On the US side, from China, they are listed on the Nasdaq stock market. Yes. This will be another aspect that is coming during the transition period. And the platform to enter ASI. Let's look at the definition of ASI: Artificial Super Intelligent. It will reach a point where it will be smarter than all humans on Earth combined. Yes. Therefore, humanoid robots, all AI, will be smarter than all humans on Earth combined. If AGI is smarter than humans. Yes. But not yet all humans on Earth combined. But this will think much faster. Therefore, chips will have to be developed further. And China and America have started to go their separate ways, with China being able to go faster by making what is called Photonic chips. These are chips that are not electrons like Nvidia makes, but they are called light, photonic. They can process about 1,000 times faster than electron chipsets and are much more energy-efficient. And this is what we are entering in the early stage, and by 2030, it will be in our daily lives like ChatGPT. 2030 is only a few years away. Not just a year. Everything from now on will be very fast. It will be very fast, and by 2030-35, we will enter the early stage of the ASI era, the Artificial Super Intelligent era, which will make the delivery of goods, management platforms, office work, and control systems develop quite rapidly, faster, more accurate, and with higher data storage. But on the US scale, it will be a bit small, because on the US side, companies will think only within their own projects. Yes. But on the Chinese side, they can combine all of them. We must see this picture first. Huawei is not a public company, but a company that works with the government, the central government of China. And Huawei will act as a research center. Their research center is like a conductor, and each instrument is a different company. And they can bring each company together and direct them in the same direction. They are the ones who research and work with large firms. Whereas in America, it's like everyone does their own thing. I once asked a representative from City Bank. They have about 8,000 apps in their system. He said America cannot do this due to legal reasons. Therefore, City Bank can only plug into various apps. This causes the development of both countries to go in different directions. Yes. China focuses on ecosystems, while America focuses on individual growth and joint ventures. What is the problem? For example, if the same company has two departments, it's difficult to have meetings, right? And these are different companies. It's even more difficult to schedule meetings and do anything together. This is the reality for workers. It is difficult. For example, Elon Musk has SpaceX. Yes. It has a satellite system through SpaceX. As a result, SpaceX does not have mobile phones. Huawei uses the Chinese government's satellites and can connect to satellites in its Mate series, from Mate 60 to Mate 80 this year. Yes. Mobile phones can connect to satellites anywhere in the world. For example, in Kenya, they don't need to install internet poles or mobile phone towers anymore. They only use satellite connections. The question is, this will be a challenge for telecommunication companies worldwide: what if one day infrastructure is no longer needed, and we only need to connect via satellite? Will the concession model or work model remain the same? This is another perspective. And another perspective is the operating system. In America, we are already troubled, do we choose Windows or Apple iOS? But from now on, we will be even more troubled, as we will have to choose Harmony. Mmm. This means that if we trade with China, within 2 years, before a major war, the Chinese government says that all operating systems in the Chinese government, in the country, must be 100% domestically produced. It is predicted that it will be changed to Huawei's Harmony operating system, because it is designed as an ecosystem. This will be a problem for countries like ours. Will we use Windows or Apple's iOS, or will we have to use China's Harmony? Or perhaps both. This will be a major technological issue that we will face from now on. Yes. But this major change in the next 3-5 years will be full of investment opportunities as well. Full of opportunities. Both in terms of investment and in terms of buying companies that are not yet large companies. Yes. And they are very small companies, ready to become large companies. Like quantum companies. Previously, the company's value was only around $100 million. Like Wave or something. It turned out that over time, the world has expanded its business, and there are more customers, from $100 million to tens of billions. The upside will be greater and faster. Whereas buying a trillion-dollar company, it's not easy for it to grow, right? There are many opportunities. First. The second opportunity is that we can create our own businesses on these new worlds. If we open ourselves up to learning and finding opportunities, there will be many more. Yes. What size market cap or size of stocks or businesses should we buy to get good returns and efficiency? The first question is, is it on the path of the future world? Yes. First, if we interpret the question as traveling on the path of the future world, such as reaching quantum, then we should study. How do quantum companies operate? What are their business methods? Because it's something new, right? So, when we see that quantum is becoming something new, and the companies are small, then they are companies waiting to grow. So, should we prepare to invest in quantum companies? This is another thing. Or the companies mentioned earlier, self-driving car companies, or humanoid robot companies, like Tesla or other companies. There will be companies like this that are being added, which we have never known before, and they are also the direction of the future world. This will be an opportunity, or we can take their business and open it in our country. Yes. This is even more important. Yes. So, there are opportunities for both investors and entrepreneurs. In this new world. Yes, yes. And their platforms can be used worldwide. Therefore, our being in our country and using their opportunities to adapt our businesses and share opportunities is very important from now on. Yes. Listening to this, it seems most opportunities are in China. I think China comes as an ecosystem. But America comes in pieces. Yes. So, it depends on the suitability for each person's design. How they will design it. But if it's a company that uses the most advanced technology in the world, then America must be given credit. From now on, for the next 5 years, because they have attracted a lot of top talent from around the world. But for companies that are ecosystems, it's not too bad. Companies with growth potential must be given to the Chinese side. The whole world is competing between these two sides. Yes. And will there be any side that is far ahead, like a runaway winner? It's hard to think about surpassing now, because China says it will go its own way and not compete with the United States. Yes. So, America has no competitors. [Laughter] Right now. Yes. As investors, we have to seek opportunities worldwide, right, Professor? Yes. And both countries have the same policy: global scale. So, they think that the global market is their customer, which is important. Even though we are facing the risks of change in this new world, it is also full of opportunities. We have had the opportunity to talk with the professor. Professor, do you have any further warnings? Are there other risks that investors and entrepreneurs should be cautious about in 2026? I think it's a year, I would call it a period, because it's not just this year. It will be an opportunity to know what the crisis we are facing is. If we know what it is, we will know what its opportunities are. Yes. If we understand, I'm not saying it's scary, but since it's the dynamics of the world, and we cannot change the destiny of the world, the importance is like understanding what is happening. And we should not act like football fans, cheering excitedly, waiting for it to happen before believing. But as a strategist, we should imagine building a hotel. We imagine the hotel on the opening day, right? But most people see the land and say it's overgrown and empty, what can be done? So, a strategist must see the hotel on the opening day on that empty land. Yes. Therefore, we must act as someone who can see the empty land as a hotel on the grand opening day. That is a strategist. Therefore, most people who get only small returns and face immense risks are those who buy on the grand opening day and see it as a beautiful hotel. But the wealthy are those who buy that piece of land and build a beautiful hotel. So, if we see that this is the early stage of the fourth industrial era, we should look at how the fourth industrial era will move towards AGI and ASI, and how the infrastructure system will change from digital to quantum. The shift from photonic chipsets to electron chipsets, how are they related? Will the platforms involved change from now on? Will Facebook become a thing of the past? Why did Elon Musk dare to buy Twitter and transform it into XAI? He must have a way of thinking about how to adapt, right? Therefore, those who succeed in investing must be people who see the future, not people who see the future when it has already happened and then say, "Oh, I believe it," because then the price will be too expensive. So, step 1, we must see this first. We must tell ourselves to see this first. Step 2, we must learn what the situation is, what is the crisis, and what are the opportunities in the crisis? Or we can separate ourselves and do something unrelated to both crisis and opportunity. We can create opportunities on our own path. This is possible during this period. Therefore, news is just an impact, it's an activity in the world. But if we understand what is happening and what the dynamics of the world are, we will see that opportunities are everywhere. And the opportunities we see are the biggest in 100 years. We won't have such opportunities often in the next 10 years. Yes. And what is important is building confidence and aligning our minds to go in the right direction. Professor, do you have any advice? Today, there are many stimuli on social media and elsewhere. And it's like hypnotizing us. So, take a break from your mental state, watch some, don't watch some, let time pass. But do what you are interested in and check it occasionally. But use that time to do what you need to do, and it won't have much impact on what comes in. For example, I recommended buying gold. As a result, it dropped a lot in the past 2-3 days. I was indifferent because I said from a low cost of less than 30,000, many people are still at a cost of 18,000. No matter how much it drops, it won't reach that. Yes. You understand, right? And no matter how much it drops, it won't reach that, so let it go. So, if you want to buy more, buy more. It's not a big deal. But when we think, "What happened?" Oh, it's the worst. And there will always be words like "the bubble burst." So, this bursts, that bursts, this is Black Monday, Black Tuesday. We see these often. In reality, it's news, isn't it? Because we can't buy it in time, and it has already gone up so much. It drops for us to buy again. We just need to adapt. We are not in a difficult situation, so we will see everything.