[clearstack]

internet cos in 1999 had near-zero revenue. NVDA alone did $130B last year. the risk is the capex depreciation cycle, not the pop itself.

[throwawayffffas]

The California gold rush had multiple winners including Levis-Strauss. People selling jeans and shovels made a killing as they are now. That does not mean that most prospectors won't go bust. I.e. NVDA may be the winner, but OpenAI, Anthropic, etc may not survive.