A miracle technology arrives. Early suppliers earn real profits because supply is short. Demand looks bottomless, which is obvious to everyone in the early numbers. The demand and profits pull in capital and competitors. Everyone builds at once, even those who see the glut coming, locking in commitments at scarcity prices just to get capacity online. Supply arrives, the technology gets better, and prices collapse. Capital loses, consumers win, and the technology chugs on.
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The mistake a lot of people make is they think about venture as an asset class the way they think about public equities, where you can have a diversified portfolio and do well. In venture, if you're not in the top-performing funds, you're not making money. The data is very clear on that.
Ramtin Naimi — Invest Like the Best with Patrick O'Shaughnessy
It was just extremely suspicious the entire thing and there was reporting in the New York like a bunch of reporting to a lot of we talked to a lot of NeoCloud founders and it's like oh they've been working in real estate for a long time. They've been working in uh in crypto mining for a long time. They've been building things for a decade and now they're having the AI moment. It's very rare that you talk to someone who's like, "Oh yeah, like I I' I've actually never seen a data center in person, but I set one up and I'm doing great."
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Bloomberg reported that Nvidia Corp. Chief Executive Officer Jensen Wong admitted that he had an affair with a woman identified in a series of reports as a suspected Chinese spy, plunging the chip colossus into a crisis like none before in its three decades history.
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