Back when I was a kid, stocks were a pretty illiquid investment. I had to visit a broker. We had to hand over cash, or a check. We were mailed a stock certificate. Stocks were mostly a game for professionals. If you held stocks it was through a mutual fund, run by professionals, the money […]
Generative Artificial Intelligence (GenAI) development consists of three stages. All must fire for the technology to meet its promises. The first stage is infrastructure, and we already know the answer to that. Nvidia got to a $2 trillion market cap, and ARM Holdings is worth just as much (on a price to sales basis) because […]
Nothing deflates like technology. This is true for all technology. It was true for manufacturing technology a century ago. That helped cause the Great Depression. There wasn’t enough money to absorb all the productivity, so prices fell. This made suppliers insolvent, people lost their jobs, and you had a spiral. Thanks to Moore’s Law, change […]
Generative Artificial Intelligence (GenAI) has transformed the tech landscape in less than 18 months. Since OpenAI launched ChatGPT, there has been an arms race to upgrade data centers and support it. Cloud Czars are buying Nvidia chips with both hands. This has made Nvidia the 3rd most valuable company in the world, behind only Apple […]
America was founded as a meritocracy. Letting people rise, and fall, based on their own actions, is the key to our success. The Gilded Age families of the 19th century, the Astors and Vanderbilts, are forgotten now because their wealth and power have dissipated. Anderson Cooper may be famous, but he’s not wealthy, even though […]
Over 2 years ago, when most of the media was still celebrating him, I compared Elon Musk to Henry Ford. Not in a good way. I have seen nothing since to change my view, only to darken it. Last year was horrible for the South African immigrant, currently the world’s wealthiest person. He bought Twitter and […]
The early innings of AI remind me a little of the Texas fracking boom of the early 2010s. A lot of money is going out. Not a lot is coming in. Frackers had to compete for leases, for equipment, and for drillers. Dozens of new companies were formed, and one even gave our family money […]
Many people think it’s racism, or sexism. They think it’s love of Hitler, or the Spanish Inquisition. It’s not. It’s classism. My Friend Edna From 1983-2015 I had a neighbor named Edna. Edna was a home health care worker. She took a bus every day to some rich person’s house to care for their aging […]
For the last year the Cloud Czars have been playing The Great Game with AI. The term, coined in the 19th century around the imperialism of European powers, refers to tech industry leaders jostling for power around a paradigm shifting technology. Artificial Intelligence is such a technology. The Background Having covered tech for over 40 years, […]
If you create content there are two sources of income. The audience can pay you, or an advertiser can pay you. Most content rides on a combination of the two methods. You can no longer make money offering content online. The trend is now coming for TV. There are two reasons for this. The first […]
