AI is being treated primarily as a demand story, yet the outcome will be determined by supply.
Once capital begins to concentrate at this scale, the question shifts from “how large the opportunity becomes” to “how much of it participants are able to retain.” Those two rarely coincide.
Good stuff, agree. Really hate it, as don't like having to sit it out, & uncomfortable buying stuff that is on sale (e.g. certain software cos) as also timing unknown.
Enjoyed the letter, thanks for sharing Doug.
AI is being treated primarily as a demand story, yet the outcome will be determined by supply.
Once capital begins to concentrate at this scale, the question shifts from “how large the opportunity becomes” to “how much of it participants are able to retain.” Those two rarely coincide.
Good stuff, agree. Really hate it, as don't like having to sit it out, & uncomfortable buying stuff that is on sale (e.g. certain software cos) as also timing unknown.
Thanks, good letter 💚 🥃