The More You Buy, The More You Lose
A lot of the AI story still sounds like physics and destiny. But the pressure is showing up somewhere less glamorous: bond spreads, memory prices, lease obligations, and the fact that nobody wants to say exactly how much money this is making.
Blackwell efficiency claims
The capex mountain
What bond markets are saying
The memory cost spiral
Circular financing and missing foundations
The startup business model problem
Opaque revenue and the hype machine
What could break, and what might not
Source:
Ed Zitron's Where's Your Ed At — The More You Buy, The More You Lose
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