While everyone stares at humanoids, a name already earning embodied-AI money — with a textbook model — sits under a "farm equipment" label: John Deere. Its See & Spray identifies weeds plant-by-plant at 15 mph, already across 5M+ acres, cutting herbicide 59%, charging by the acre. Installed base + data flywheel + high switching cost + recurring revenue — the same species as ISRG's razor/blade. Buy it the way you buy ISRG: pay a fair price for quality, add in cyclical troughs, hold long.

Two numbers: Figure closed its Series C at a $39B valuation on a few million dollars of revenue; the same season, John Deere's weeding robots ran across 5M+ acres, charging by the acre and cutting herbicide 59%. One is worth $39B on near-zero revenue; the other counts cash in a field and nobody calls it a robot stock. The most expensive lesson: fame isn't fortune. The real cash flows sit downstream, in names that don't carry "robot."