the greatest flywheel ever is this "ai bubble" of margin-insensitive private company with tons of cash and raised capital capex flows to a public chip / compute provider company financials incredible flywheel ponzu, fact that openai / anthropic etc remain private is largely the secret sauce

imagine it wouldnt work as well if we had line of sight into margins ie if openai and others were public

this is somewhat of a new dynamic idk if we've ever seen this before because we've never had private companies this large and with this much capital before