A few strong views on the Robotics Industry: 1 - General Purpose Robotics will be much larger than Specialized Robotics 2 - Vertically integrated (AI + hardware) companies have huge edge 3 - In the short term, the best robot models will be derived from real robot data. In the long term, they will come from simulated data 4 - The biggest companies will be US companies that understand how to bridge the talent and infrastructure from Asia 5 - Early distribution is critical