[yarri]

@sama actually addressed HW on his recent AMA here [0] but as with software startups, you have to broaden your view of a hardware startup -- if you include ventures focused on fundamental semiconductor technology, both analog and digital; tools for design, prototyping and verification; semiconductor intellectual property as well as end products, there are quite a few potential $10B opportunities[1]. I believe @sama is considering the full range of investment options. Not all investments in this segment are capital intensive.

[0] https://news.ycombinator.com/item?id=9238839 [1] http://blog.semiconductors.org/blog/what-end-use-application...