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Tony Robbins on the AI stock bubble and why he cut a big check to address grocery store inflation
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Tony Robbins has coached presidents, billionaire tech CEOs, and world-class athletes to get the most out of their lives. But what he’s doing right now in concert with the USDA and Hatch for Hunger may be some of the most important work of his career. The partnership is engineered to eliminate America's staggering 800 million-pound protein shortfall for food-insecure households. Robbins and his partners cracked a problem that has stumped policymakers for decades. Most food pantries lack refrigeration and can’t afford to source protein. Now, Robbins and his partners have gotten the USDA to fund the refrigeration build-out while Hatch delivers protein at below-wholesale prices with a $0.01 margin. Together, the partnership has raised more than $40 million, with Robbins personally writing a check for roughly a quarter of that. Robbins stopped by Yahoo Finance’s Opening Bid to explain the initiative ahead of World Hunger Day on Thursday and share his latest thinking on the impact of AI. “We have so many people that have a $500 or $600 bill they’re not prepared for, and [then] they can’t make groceries. And so we’re in that place. The government has cut down its support for all these organizations because there was so much abuse. But then there’s a lot of people that desperately need it as well. So all these food banks are really hurting right now in the world. We produce enough food for 8.2 billion people. The problem is distribution, and the problem is people hoarding it. And the problem is trying to control prices. So we destroy a lot of the food. A big part of what I do is rescue that food with organizations.” “Well, I think it feels like an AI bubble by anybody who’s looking at these numbers. But again, everybody’s racing. This happened with the internet [rise]. It’s an explosion. And then this retraction. But there were certain companies that certainly didn’t go away. The internet became the base of our lives. Well, same thing is true with AI. Some of it’s going to be overdeveloped, overvalued. It’s going to come back, but they’re going to be a few winners. And the goal is I think everybody wants to be that winner. So everybody’s trying to do that. But when does it bust, no one can do the timing right. I think you just got to diversify effectively.” Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com. Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance
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