innovation
The Confidence Tax
Samsung just put $230 million into a company built to sell an alternative to Nvidia’s AI chips. Samsung is not a venture fund taking a flyer on an unproven architecture. It has the balance sheet to buy Nvidia GPUs like everyone else, call that a strategy, and never be criticized for it. Nobody gets fired…
The Enthusiasm Is Not the Product
Every genuinely new technology arrives with the same small, loud crowd out front. First the innovators, then the early adopters: a thin early market flush with enthusiasm, willing to forgive the rough edges because they can already see where the thing is headed before it gets there. They buy the 1.0. They tolerate the crashes.…