2025 In Review, 2026 Predictions — With Reed Albergotti

Let's look back at 2025 and anticipate what's coming in 2026. We'll do it with Semaphore technology editor Reid Albergatti right after this. Capital One's tech team isn't just talking about multi-agentic AI. They already deployed It's called Chat Concierge, and it's simplifying car shopping, using self-reflection and layered reasoning with live API checks. It doesn't just help buyers find a car they love. It helps schedule a test drive, get pre-approved for financing, and estimate trade in value. Advanced, intuitive, and deployed. That's how they stack. That's technology at Capital One. Welcome to Big Technology Podcast, a show for cool-headed and nuanced conversation of the tech world and beyond. It's the holiday season, which means one thing. We take a look back at what happened over the past year and say, what's next? And if we can be right, you know, maybe three or four times out of like the 90,000 predictions we'll make, I'm sure we'll celebrate it next year. So joining us as always is, or actually joining us in key moments in history, shall we say, is Semaphore Technology Editor Reid Albergatti. Reid, great to see you. It's always good to be here. I kind of emailed you and said, let's do predictions, but I'd love to hear just your recap of 2025. I mean, is there, it's been a crazy year, so much funding, commitment, back and forth. What would you say is like sort of the defining characteristic of the past year? Yeah, I think, excuse me, I think that is one of them. I think the infrastructure, you know, sort of questions and just the sheer scale of it has been probably like the big topic of conversation. But I also think, you know, we've been talking a lot about China recently, right? I think geopolitics has played a big role, much bigger role than it did last year. I was looking back at my predictions from last year and trying to see like, where did I get, what did I get right and what did I get wrong? And I mean, you know, it just seems like it was such a different world a year ago, right? Before the changeover in the administration, we've seen all kinds of crazy stuff happening in the Gulf. And so, you know, I think that's another, another big one. I mean, for me, like I view this as sort of a year of scale where like, let me, I'm just going to try to go through like the various years since ChatGPT has been released, because obviously gendered AI has been the animating conversation in the tech world. I mean, 2022 was like, oh wow, the computer can talk to you and doesn't sound like an idiot. 2023 was basically, it felt like treading water. There was a lot of like, where's this going to go? Because the capabilities weren't advanced enough. Sam Altman gets fired, reinstated. And then I think 2024 and 25 have really been the years where like, the applications are starting to materialize. Like maybe 24 was when the application was starting to materialize. Like you really had a sense that this stuff might work. And now 2025 has been like, everybody's taking all of their money and putting all of it into this project in the hopes that, you know, it really will continue growing the way that it has. Is that a good sort of representation of where we are? I like that. I like that. Yeah. I do think that's right. And I did, I did write in the predictions last year about, you know, infrastructure and the fact that it was probably an obvious prediction, but that like, we were just going to see huge, like multiples more compute this year than we, than we did last year. And also talked about how these data centers were going to get so big that they're going to be, these large frontier models are going to be trained across multiple locations, which we started to see in like the last quarter. So yeah, I mean, I, I totally agree with that. And I think we'll see, I think we'll see that continue next year. So if those are the labels for 2025, what do you think the label is going to be for 26? Like, if we're going to look back this time next year, where do you think we are? Yeah. I mean, I, I think actually we're reaching this, this point in AI where it is still going to be the major topic of conversation, but I think the, I think some of the, the sort of novelty of it is, is wearing off now. And I think we'll see it kind of plateau. And then I think the products will become much more important. Like, I don't think, I mean, you mentioned, you mentioned the products back in 2024, but I think next year, it's really going to be about the products. I don't think people are going to be getting excited about, you know, the new, whatever new models coming out and, you know, what are the capabilities? Because I think for most people, they're basically good enough. And it's really about, it's really about just adding new products rather than like the underlying model capability. So I think, I think that's what next year, at least for consumers will be about in the enterprise. It's, it's maybe a little different. Yeah. I mean, I think there's going to be some companies that will continue to push the envelope and that will be some, some pretty impressive news. But I also think the shakeout is coming in a way like to me, I think 2026 is really going to be a year of chaos. I mean, we're already starting to see some of this happen with Oracle and some of the other infrastructure builders and the bets have become so big. And you know, that's one of the things about gambling is not everybody wins their bets. So, yeah, yeah. So, so, so what I'm going to do, I think that like we have a prediction episode coming up with Ranjan Roy. So instead of just going like for our wild predictions, I just kind of wanted to set the table for 2026 and sort of throw some ideas about what the companies, you know, might be going through, what this chaos might look like, and then sort of hear your perspective about it. Reid, does that sound good? Sure. Yeah. And I'd love to hear if you disagree, because I think this is, it's fun to argue about this stuff. Definitely. All right, let's do it. Pardon the interruption style. Meta. The question for Meta is like, what is going to happen to that super intelligence lab? I mean, that is, it's a multi-billion dollar effort. It hasn't, hasn't produced anything. And it is really going to be sort of deliver or, or chaos or crisis mode for that division next year. Yeah, I think it's going to continue to be chaos and crisis mode. I mean, you're already seeing stories coming out. I think it was, I think it was in the times about some sort of friction between the product teams and, and the super intelligence team. So I think, I think that will continue. I think it's just so remarkable that Meta, you know, they were so early on AI, they tried to acquire DeepMind, you know, before Google did, and then sort of just lost focus on it. And now it's just, it just seems to be all over the place. And it's, it's going to be all about, I think for them, like, again, it's products, right? It's like these glasses, the, you know, the glasses incorporating AI into those and, you know, in across his products, which has been sort of a, you know, a clunky experience, right? I don't think that the Facebook and Instagram AI products that they put out have been necessarily that popular. So I think it'll just be more chaos as they, as they try to figure it out. I mean, let's flesh that out a little bit. So obviously there's one question about whether Alexander Wang is going to stay. The other is, are they going to ship a leading model or at least a model that people respect? Because after let's say Lama 3, which was neck and neck with some of the state of the art clothes models, they've really fallen off a cliff and they have all the expertise and all the GPUs they could want. And obviously this stuff takes a long time, but yet where's the cream filling? I think they've actually failed at that, at that strategy of, of sort of putting out open source models and then trying to make that the standard. They're really good at open source software. I mean, they did, they've done that many times, right? With PyTorch, but I think AI is different because it's just so expensive. And I wrote about this a bunch, like, Models get so expensive that it just makes no sense to put out a leading frontier model and make it free. And you have so much competition now from China, from France, with Mistral, that it's just, I think at this point, the new models are either going to just be part of their products, like almost back-end technology, or they'll be closed models, just like OpenAI. That's my guess. I mean, I think, like an educated guess, I would say. I don't know if you'd agree with that. I think so. I think their open-source strategy is definitely done. The question really is, can they build a even closed model that rivals today's leaders? Well, I don't think they have to, to be honest. I think that thinking about it that way is like the way a lot of people still think about AI. It's like, there's this race to superintelligence. I don't think that's the case. I think at this point, it's about products. And if people like the meta products that they put out there that are run on these foundation models, to be honest, they could probably be run on a lot of different models that are out there. I think it's partly ego, it's partly bragging rights, and maybe a nod to, maybe it's really for Wall Street to kind of look like you're on the cutting edge. But I mean, I really don't think they have to. I think the models are pretty, they're good enough, and they're close enough that you don't have to have some breakthrough. In fact, I think the same is true for probably open AI. I mean, we, you know, I don't know. Again, that's maybe a controversial opinion, but you know, do you agree? Well, I was gonna say, so let me throw this other thing out there, which is basically is one answer to your question. As you're talking about meta, it does seem clear that meta can effectively fail to build superintelligence. They could fail to build, you know, the worst model and still make their products better. But then what do their products look like? There's a lot more interaction with AI in them than there were previously. You go from, you know, you friend a human to you friend your AI bot, and we've already seen that there's compelling uses for that. So maybe next year really is the moment where Facebook, and I mean, we've already seen some of it with the recruiting, but Facebook and open AI's battle just explodes out into the open, and maybe Zuck and Sam are at odds with each other, and meta might even see, start to eventually see some usage declines as people are like, well, I don't wanna look at other people's great lives on Instagram. I wanna speak with my AI therapy bot who tells me how great I am. Well, you know, that's interesting to think about, like, so all these tech companies are always competing with each other on like every front, right? They all make a product in every single category, and open AI has now made a social media app, right? And I think that's sort of looking like it's failed. I mean, they threw the spaghetti against the wall. I think actually it looks like Facebook is, or meta, and Facebook and Instagram are sort of competing more with like YouTube and TikTok, and you know, and it's not so much social media anymore. It looks a lot like just media, right, and like television. I think that's, and the YouTube strategy is like, if you talk to Neil Mohan, who's the CEO of YouTube, it's like they don't care whether it's AI-generated content or human-generated content. They just wanna put content in front of you that you wanna see and you wanna watch, and I think that's ultimately what meta's about. I mean, it's eyeball farming, right? And so, like, I don't know what the AI, what the future of social media and content is in the AI world, like we can make guesses about that, but meta will see what it is, and they're very good at copying that, right? So they will just mimic whatever, you know, wherever the eyeballs are going, they'll do those products, and they'll probably do, you know, they generally do a good job with that, I think. Talk a little bit more about why you don't think open AI needs the best models. Well, I mean, there was an interesting story in the information today that said, you know, AI, so open AI's realized that there's less progress on the model front, and consumers don't, it doesn't necessarily translate into, you know, better consumer products, right, as they increase the capabilities of the models, and that's creating some tension within the company. Of course, the company responded and said that's, you know, more or less not true, but like, I've been calling this now for like over a year, which is that the real, the open AI, as soon as ChatGPT came out, completely changed from a research lab to a consumer products company. Yes, they have an enterprise business that's growing, and I think that could be a good revenue source, but really, what they have that nobody else has is ChatGPT and a lot of eyeballs, a lot of, I think it was or is the fastest growing, you know, consumer product in history, if you just look at the numbers and the speed of growth. They're just, what they need to do is keep those people engaged. That's their product, and they have to reduce costs. So I think when you talk about like open AI building its own chips and data centers and all this stuff, that's all about like them foreseeing the future where there's so many people using these things, it's expensive to run in the data center, they're gonna have to have a strategy to control the costs and sort of vertically integrate there. It's not about like, can we build super intelligence? I think they have to keep, stay on the cutting edge, but that's more because they've like, they still have a lot of investors who believe that, you know, they've invested in this company because they're gonna invent AGI and it's gonna tell them how to make money, right? And there's a story that they have to keep telling, and I think it's important for recruiting and all that, but like ultimately, I think that will just become, there will be a research lab within open AI, just like Google has, you know, had for many years, like an AI research lab, and now that's becoming much more a part of product. So that's kind of how I see it, if that makes sense. Yeah, that makes sense. I mean, I think my, I will go against you on this one. I do think they need the best models. I think their story, and their story is important, is predicated on them being out ahead of everybody else. And it was interesting how, when Google released Gemini 3, before the code red happened, the underappreciated comment within that company was Sam saying there are gonna be some, I guess, like what did he say, bad vibes, or some tough economic vibes, which I think just indicates that best model story continues, and then you can sort of build the infrastructure you need to be able to deliver the products. So I think if you fall too behind. Go ahead. Oh, good. Sorry, I cut you off then. Yeah, no, I was just gonna say, if you fall too behind on model development, then some of that magic evaporates. I agree with that, but I think the thing that I'd love to get your thought on is when the bad vibes, the bad economic vibes, are they, is that their customers with the products, or is that more about investors and raising money, and you know, or borrowing money, that kind of thing? I think it's more about investors. That would be my guess. That's what I think, yeah. But that money right now is so important to the company. Totally, totally. And that's what I mean. I think they have to keep doing it, but it's more about appearances. It's not like, you know, if they don't stay on the cutting edge of models, the users will go to Google or something, right? I mean, I think there is a competition for users there, but it's much more about like, what does the actual product feel? What are consumers able to do with this? Which has, I think, less and less to do with the underlying model capabilities and more to do with all the stuff they build around those models. So that's sort of my view. Okay, that'll take, that'll take. I get that, that's an important nuance, and we love doing that here. All right. Oh, we have so many companies left to do, and I think we've only really done one and a half. All right. Google. The Google thing is like, we're gonna see next year whether or not they can maintain this momentum. And if they do, they effectively become the undisputed leader in AI, given where they started and how they've been tracking. And that is an impressive turnaround for them. But my, all right, I will go with my perspective on this first. I don't think they're gonna do it. I think there's been all this buzz about Gemini being so great. You use the product, it's good, it does cool things, it has really interesting features. You can talk to videos, which I like. But it doesn't feel as developed as the others do, as Claude and as Chachi Petit. Like if you said, run, go use an AI and you need to get something done right away, I don't go to Gemini. It just, sorry, well, I was gonna say something mean. Just think, not about you, it's about, I'll say it, I'll say it, I'll say it. Gemini to me feels like an Axios article, right? It's like giving you the bullet points. Oh, wow, I thought you were gonna say something mean about Google, but you're, okay, you're going for Axios. All right. I like Axios, but it just feels like, oh, here, let's just give you the bullet points, then you go away. No, I see what you mean. I actually, I like Gemini too. Like I use that. I think it's good for, like you kind of said, anything visual. Like I used it to try to like redecorate my house, which was like just in mayhem. And so it was really helpful for that. I think it was, I tried Chachi Petit. So I think on the multimodal front, they're better. The way I look at it though, is not that like Google caught up or something like that. I think Google was already ahead on AI, but they just hadn't been thinking about productizing it yet. They were sort of like, this technology's not here yet. It's not ready yet. So we're gonna wait. You could say that was a mistake or not, but like whatever happened is they get dragged into this new world. And they had to catch up, not on AI, but just on like how to turn these AI, this AI research into products. And they pretty much have caught up, but I think that they still have a big problem, which is that like they're underlying, you know, they get 80% of their revenue, I think from search, from the search advertising ecosystem. And that's totally changing, right? That whole industry is changing. Like it's, I think traditional search is like, is gonna be just gone. Even Google search is, to me, totally different now. And what does that do to revenue? And I think it's just a question of like, that's a very tricky balance that they have to, it's a tightrope they have to walk where they can't disrupt themselves too fast, but they kind of have to disrupt themselves. And there's a lot of ways that that can go wrong. So I kind of agree. Like it's not like Google's now in the lead and they can just like continue getting better at AI. And you know, this isn't really about being better at AI. But then again, I think it's, that's also looking at, looking at Gemini is like very narrow because like in a lot of ways, like their AI is showing up in places like self-driving cars, right? The Waymo thing is, you know, all over the place. We can talk about self-driving car predictions if you want to, but you know, quantum computing, right? Where you've got a potential there for, you know, breakthroughs in quantum, which then would feed into, you know, like isomorphic labs, their biotech spinoff, right? Which could be whole new sources of revenue. So I think in a lot of ways, like they're this giant empire that has a lot of like, I think really good things going. So I'd sort of like broaden it out beyond Gemini, if that makes sense. Yeah, that does make sense. I mean, this is like a place where, I mean, Waymo is brought up every, you know, couple episodes and there's the only thing you can do with Waymo is just be like, they're really doing it. It's, at Google, like between Waymo, AI, quantum, I mean, the fact that they acquired DeepMind, they're a smart company. It's, yeah, I think it's a very smart company. And I think Sundar, you know, he gets a lot of crap, I think, but like, I mean, to be able to kind of like quickly mobilize and change. And if you talk to people at Google, they're just like, it's a totally different vibe now than it used to be. It's like people, it's much more of like a, hey, let's get going, like fast paced vibe versus kind of, I thought it was kind of a sleepy, it's kind of sleepy before. That was my vibe, so. Yeah, it was a retirement home in a way. I mean, I know that's wrong, but there's truth in the joke. Yeah, not for everyone, right? It's a huge company, but like, you know, there were some people who for sure were taking it easy and I think they're being like sort of ushered out in one way or another. So, you know, but it's hard, it's tough to like turn around that ship. So, I totally agree that they have huge challenges, but it's like such a bigger, I mean, we haven't even talked about their TPUs, right? I think so much of this AI stuff is about cost and like vertical integration and they're leading there. So, you know, it's really, I think all this data center build out, the way I think about it is it's like, the training part is like interesting, but it's really about inference. It's really about serving the products to consumers and enterprise in the most efficient way possible. And like, I don't know, it's between, I mean, Amazon's doing a good job of that too. So, it's Microsoft, but like Google seems to be just ahead there. I don't know how you feel about that. No, I agree with that as well. My perspective on this is the Gemini hype is gonna fade a little bit, but Google the company is in really good shape. All right, I need to take a quick break. Let's come back, we'll do Amazon, we'll do Apple and we'll see what else we can get to. 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Yeah, I mean, that would make total sense to me. I think that would make total sense. Because right now, I mean, that's what people want, right? That's what everyone is trying to basically. now and they would love to like disintermediate Amazon like like all these all these chat bot companies perplexity to like they'd love to just have you be able to shop on Amazon and never have to go to Amazon. Of course like that's a bad deal for Amazon. So the natural I think the natural solution is they've got to work together and they've got to figure out how to you know with whatever it is and peace and CP servers or something else to just kind of make this make the shopping experience work. Yeah no I think it's happening and of course Amazon's eyeing this 10 billion dollar investment into open AI which is fascinating because they already have many billions in Anthropic. That's really interesting and I think the rumor I don't think it's been confirmed that open AI is going to actually use the train in the Amazon training and chips is another really interesting one that like you know that to me if that happens you've got Anthropic and open AI using training and that's like that's a huge win for them. On the custom chip front it will help them develop their next generation of chips and I think we'll be like a real competitor on the not directly maybe to the TPUs at Google but like just just in terms of like vertical integration and cost. Right. Here's Apple headline from the future. Apple. And you see when I talked about this a little while ago and it's been disputed but I'm still going with it. Tim Cook announces on first quarter conference call that he's leaving the company at the end of the year. He's going out on top. He's going to give the world his last little gift which is the folding iPhone which will be the flagship phone for the company. Maybe not the flagship but the most profitable iPhone Apple has ever made. And Tim will shrug his shoulders like Michael Jordan and say what more can I do and be generous and be generous and be generous and be generous and be generous and be generous. How much more can I do and be done. I you know I don't know if that will happen but I I've read as you said conflicting reports on that but probably a good move for him. I mean he's like just if you look at the market cap of that company what he's done is is incredible and I think at his age it's just there's just very little upside in terms of like just his legacy. I don't know how much he and you know he's he's he's he's been doing a lot of stuff it's just like the future of Apple is such a massive headache like I think if it were if it were me I would I would totally make that move. But then again that's why I'm not you know a billionaire CEO of Apple. So you know they think they think different. But yeah I like I like that. Tesla. So Tesla is the big thing about Tesla's self driving effort. I was just in in Dallas and I got picked up in a Uber Tesla and with a human driver. But I said hey can you can you flick that thing on. And he did and I felt good enough on the highways in Dallas that you know it wasn't going to. Crash and it operated around curves and around traffic very well. Switch lanes. A lot of people have been saying good things about it. I don't know. Reed what do you think? I think I think there's a lot of good things about it. I don't know. Reed is this going to be the year and why why is Tesla and not really viewed in the same league as Waymo I guess it's not as good. Well I mean I think politics plays a big part in that right. I think it's it's one of my gripes is like I think tech reporters allow their personal feelings and you know political feelings emotions to kind of like skew their their analysis of these companies and I think FSD has come such a long way like I tried that out when it was brand new in Sacramento with some Washington Post colleagues at the time and it was absolutely terrifying. I mean it's amazing now. I mean it drives you from San Francisco to like other anywhere basically in northern California with barely ever having to touch the wheel. I mean it's like ninety nine point nine percent of the way there. So if they don't make some kind of breakthrough that allows them to at least in that some kind of like geofence area get rid of the driver and start offering robo taxis I think that will be that will be a surprising loss. I think like a like a hit on Tesla because I mean again they've bet the future of the company on this right. It's not it's not a car company anymore it's a robotics company and they have to they have to make this work. But the reason people don't to answer your question look at Tesla in the same way as Waymo is because they took a totally different approach that that I think made them look like a like a cheap knock off of of of Waymo right. Waymo's got these really expensive you know lidars and all this stuff and it's just like you know packed with technology and Tesla's like we're just going to do with cameras and it's going to be you know it's just going to be a very simple simple thing and took a lot of flack for that. And I think you know what. But that what that forced them to do was really focus on the long term problem of you know building these models that can you know essentially look at the world and reason like people right. And that's where that's where like these foundation models like what Google is doing is sort of converging now in in the autonomous driving space where you're taking a lot of the human the painstaking human you know sort of edge case edge case engineering out of it and just sort of like handing it over to the model. But again like that night that that ninety nine point nine percent is still a long way from the finish line. So you know it could it could go either way I think. Here's where I think Tesla comes you know into league with Waymo is if it can really get those robo taxis on the road with no safety driver and operate them safely. That's it. That I mean it's one thing to have like nice autopilot on your car for like some stretches. But once you can send you feel comfortable enough to send these things out into the wild and let them go. That's really where interesting things happen and I don't know. Maybe they'll do it maybe they won't. That's the great mystery of Tesla. Yeah I agree with that. There's there's something is going to happen in A.V. this year next year in 2026 that's going to be like a huge deal. And I think it could be a good thing. It could also be a bad thing though like if somebody if a Waymo there's an incident like a tragic incident where someone's killed. I mean that who knows how people are going to react to that. Right. I mean this thing could could be set back in 2026 even though the technology is really moving forward. So you know these aren't this is not a rational world. It says so much about the technology that it hasn't happened yet that it's driven all these models. Y'all sorry all these miles and and still is relatively safe. Pretty wild. It's way safer than a human driver for sure. Statistically I mean orders of magnitude safer. It's just like that's not how we look at it. Right. We don't look at life through an economics lens. Right. It's a it's a different calculation. So I think it's going to be eventually something will happen and I think that's going to be like a huge test for like the technology but also just like for society. How we how we allow this stuff to proceed. So yeah all right. Looking ahead to next year to me the biggest variable is NVIDIA NVIDIA could easily I mean it's kind of wild to say I feel like NVIDIA could be a 10 trillion dollar company by the end of the year. That might be an exaggeration or like two trillion dollar company. It could have or double I'll say because either it like you know the AI build out continues to pace and videos in great shape or what's happening now which seems like some of it's being commoditized really takes off and then there are Jensen's they're holding his power chip and being like. Yeah I think it's for sure going to lose market share but I think the pie is growing so fast that there's just no way there's no way they stop growing. What Wall Street decides to do with that who knows. I mean it could it could hit you know I don't know if people get spooked like I could see their stock dropping but in the end I mean people are just going to be buying these chips. There's just there's just no way around it. Microsoft, like the headline that I'm thinking about for 2026, has something to do with CoPilot. And I don't think it's good. We've seen some of those already this year. Microsoft has disputed them. I just think the company needs to do something with CoPilot. People don't like it. I mean, some people do, but by and large, it's not a beloved product. They have all of OpenAI's IP, and they have this very expensive add-on to Office that everybody went for because it was important to do AI for a couple of years. And now people are like, what is this? I know. I agree. I think they have to do something. If they don't, it's a disruptable product, right? Their whole, I mean, we just had a really smart story, I think, by one of my colleagues about Excel and how they just recently raised their prices on Excel. The stickiness of these products is still something to behold, right? Even without AI, they're still amazing. But I think eventually, as AI gets better, as the products get better, I mean, it is disruptable. So they have to figure out a way to essentially turn Office and really just Office into like a natural language interface where you just talk to it and it does stuff. And right now, the technology isn't there, right? They could try to do that, but it would make too many mistakes and you would, you know, I think they'd get a lot of blowback for that. So they've been cautious there. The danger is that they just become like a data center company, right? Which is not as good of a business. So yeah, I think they've got a lot of work to do, for sure. Headline from the future, Netflix's Warner Brothers deal falls apart. Ah, yeah. I mean, I think one of my predictions for next year is like, we're going to see a lot of M&A and I think the Trump administration is really kind of sending a signal like, we're not going to mess with your acquisitions anymore. But this is a special case, right? Because there's family involved, family and friends involved in this deal. And I think for sure, you could see it falling apart. Or I think maybe the more likely thing is that it doesn't fall apart, but like there has to be some concession made to, you know, the Trump family, to, you know, to the Ellison group or something like that, just to kind of, just to kind of grease the wheels here. Yeah. Last one I have is Anthropic. My prediction is while opening a dozen IPO, Anthropic at least sets a timeline, if not, you know, files an S-1 next year. Yeah, I think there's a good chance the IPO next year. I think, I think it could happen. I mean, it's a good, it could be a really good time. And I think we'll see more, I think we'll see more IPOs next year. That's probably, you know, these things are notoriously wrong. It's always like the year of the IPO and then, and then something happens. But, but I would, I would bank on that happening, I think. All right. Do you want to throw some haymakers before we leave? Well, I think one that's going to be fun is like that we're going to see more SPACs next year. Really? I think. Yeah, I think we had Rachel Jones, my colleague, had a good story on how, you know, some of these like critical minerals companies are doing SPACs and it's a way to kind of get government funding. And it's sort of complicated, but like, I think I've heard quantum companies are going to be doing this next year. So I think, I think it's going to be another SPAC year, which, which could be kind of fun. So that's. Is that, is that your idea of fun? You like, you like those times? Well, fun for me, I mean, I think fun, fun for journalists is not always fun for, for, for everyone, but. For the bag holder, I guess. No, it's right. Exactly. But it's, I think that will be, I think that would be an interesting one. I think we'll see some private equity as just a gaming list. I think, I think we'll see a lot of these companies that are being kind of disrupted by AI, SaaS companies that are public get taken private by, by private equity companies. I think we'll see this state backed like, I'm sure you saw like, you know, this morning the Trump administration or the Trump media company merging with a fusion company. So, I mean, just the whole like state, like tech and, and, and state backed, you know, I guess enterprise continuing is going to be, is going to be really interesting to me. But we talked about a few, I think, I think it will be another big year for quantum, right? I mean, I think that's going to become a big, I think a big part of this, you know, the, I guess these, these big government initiatives to, you know, push forward AI, I think quantum will just have to be a part of that. So there'd be some fun stuff there, but, you know, I think we touched on a lot of, a lot of good ones. I don't know. What about you? Any other crazy ones? My, my haymakers. Let me take a look at my, I'm going to talk about some of these with Ranjan. I guess like for me, like one of the things is like, who's going to leave? I always like to think like, who's going to leave? And last year my prediction was Mustafa Suleyman is going to leave Microsoft. I was wrong about that. I'd also never spoken with Mustafa before. I've spoken with him a couple of times this year. I know you have. So Mustafa, sorry for the prediction, you made it. He stayed just to prove you wrong, probably. You did. I know. And I respect that. I, there's nothing I can say about that. You know, maybe Alexander Wang leaves. I mean, do you think we could see any big, I guess Tim Cook is a departure. Yeah. Yeah. No, I mean, I think there is, I'm just going to share this that I was going to, I was, I'm going to do this with Ranjan, but I'm going to share this here because I just think it's fun. I just think everyone's going to fall in love with their AIs. Not everyone, but I think there's going to be a love boom. That is my, that is my guess. And, and you know, if it's going to be one of those things where, you know, if people don't tell you about it, then they're definitely doing it. Right. Right. It's going to be that prevalent. Totally. I mean, yeah, I have not, I have not gotten into that yet, I, but it, I feel like it's already there. No, I don't have a relationship with the bot either, but like, I just think, and it's fun to talk about because it's crazy, but people are really, really doing this. You know, I think it's actually on that, just, this is like a tangent to that, which is that the stuff people are willing to say to a chat bot, where it is going to, whatever they type in there is going to the cloud, right? Like this is, remember when email was new and then all of a sudden like every lawsuit was like just a treasure trove of emails because people didn't realize that email was like forever. I think the same thing is going to happen with this AI stuff. Like it's just the stuff people are willing to divulge in an AI chat bot and literally send to, you know, a tech company. I mean, all that stuff is being kept right. And at some point we're just going to see like the craziest, the craziest stuff come out of what people type into these things. Oh my God. For sure. I mean, I desperately want to tell it more because the memory features are getting good. I want it to know me more, but then my spidey sense is like, I probably shouldn't put this into chat GPT, but, but I'm sure there's, yeah. Maybe local AI, maybe local AI is going to be a thing for that because I think eventually people will, you know, at some point, like people are gonna be like, oh shit, like I probably shouldn't, I shouldn't just like all of my most personal information, like on the cloud. Yeah. And then I don't know, maybe they start, maybe that, that actually is a big impact on, on the chat bot industry. Right. If you're running on your computer, man, 2026 year of chaos, it's coming up. All I know is that I'm going to, like, I think we'll be wrong. Like I, I just, it's too, it's too much. Like the predictions for 2026 are like, they're too similar to the ones for, for 2025. And it's like everything, like everything will change. Like there's always going to be some dark horse that comes, that pops up that we haven't, that we haven't thought of. I think that's, that would be my biggest prediction that my predictions will be wrong. Starting off, if three of these are right, we're gonna trumpet them and we won't ever talk about the ones that we were wrong on. All right, Reid. Can you tell folks where they can find your work? Yeah, go to Semfour.com, subscribe to the Tech Newsletter, which comes out twice a week or three times a week this week because we got some extra advertising dollars. And follow me on Twitter at my name, my full name. And yeah, send me an email and tell me what you think. Well, Reid, it really is, it's always so much fun having you on the show and we should just do this more often next year. That's one of my predictions that I'm hoping will come true. We'll have you on tomorrow. I love that, I love that, anytime. All right, everybody, thank you for listening and we will see you next time on Big Technology Podcast. Michael Lewis here. 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