this post was submitted on 02 Oct 2024
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Technology
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Ed is getting good at lobbing these darts at hype bubbles.
The thing that this writeup ignores is that the object isn't to show short-term revenue, but to put all competitors out of business, be the last one standing, and create a monopoly. Either that or get bought out so the investors can move on to the next thing. But at $150B valuation, only MSFT or Nvidia can afford to buy them outright.
Google, Meta, and Amazon burned through cash for years, but they eventually outran all competition and then monetized the users who had nowhere else to go.
See that it's never going to make money, go public, hand the keys over to someone else, and then try again with a wallet full of cash and a reputation for making billion dollar businesses.