You ever go out to a restaurant now? You can get quality food - you can go out and get the best food that was available 20 years ago. They'll put it on a plate, you'll sit in a plastic chair because nobody values the chair, the white tablecloth, the maître d', but they'll put on your plate some great food for what used to be available at Applebee's prices. There are some really nice things going on, some external values being delivered to people.

It is a very interesting world. I'm excited. It is much more optimistic than people think, and there is going to be huge job creation from all these things, and there are going to be huge life improvements.

The investing public understands that you need to do things to position yourself.

That is the brilliant thing about the millennials. They're not obsessing about, "Hey, there is not going to be a job for me" - they're trying to take advantage of how good a life they can have without having to create so much nominal income. Income is there to create quality of life, but you can share your car and get where you want to go, and you can travel the world by couch surfing. I think they're taking advantage of deflationary forces to improve their life while not maybe having to chase the nominal money that was needed to buy a whole car, a whole house, a whole couch.

A big secular thing going on is technology and deflation. This is where I think millennials are getting that it is an improvement in life, and they're taking advantage of it.

Without going too deep, without globalization I am not sure everyone would be able to have a supercomputer in their pocket at the low cost.

The ability of people to reach their own news sources now, and create different views, is really unbelievable, and [populism] may be part of this.