$EOSE and $FLNC brings me back to my energy bottleneck research from October last year. The market usually focuses on the part of the cycle right in front of its nose. We need batteries, so buy battery players. Now, for example, we need nuclear, so buy SMR developers. These are largely one-off builds, hardware, with a lot of manufacturing execution risk and thin margins. Whether they even survive the ramp is a question. For these kinds of investments, I want a horizontal enabler: companies supplying something essential across multiple phases of the buildout. Ideally, something those customers keep paying for once construction is finished. I think the AI buildout, especially GPUs, has made everybody think that hardware is an easy investment. But it’s not, and it never has been. Take nuclear, for example. My preference is the uranium trade and the fuel supply chain. An SMR is largely a one-off build, besides maintenance contracts, etc., but fuel demand continues throughout its operating life. Fuel can also be hard to secure. If you can reliably supply it, you’re in a strong position.