Ben Thompson / Stratechery:

Big Tech's AI boom echoes the 1870s railroad expansion, and Nvidia shifting risk to institutional capital may expose investors if revenues fail to materialize  —  On January 1, 1870, Jay Cooke, hailed as an American hero for his role in financing the Union effort in the Civil War …

Ben Thompson / Stratechery:

Big Tech's AI boom echoes the 1870s railroad expansion, and Nvidia shifting risk to institutional capital may expose investors if revenues fail to materialize  —  On January 1, 1870, Jay Cooke, hailed as an American hero for his role in financing the Union effort in the Civil War …

Source: TechMeme
Source Link: https://www.techmeme.com/260811/p13#a260811p13