Reminiscences of a Shrub Operator

Reminiscences of a Shrub Operator

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Reminiscences of a Shrub Operator
Reminiscences of a Shrub Operator
NVIDIA MUST DIE!

NVIDIA MUST DIE!

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Le Shrub
Feb 25, 2025
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Reminiscences of a Shrub Operator
Reminiscences of a Shrub Operator
NVIDIA MUST DIE!
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Remember Javons Paradox? Good times, good times. Back when everyone was excited with Javons, we presented the Meme below in order to highlight the real force at play here: the Capital Cycle.

If you want to know “What stage” we are in this Cycle, it’s quite simple:

  • We are at the stage where Softbank wants to replace Microsoft as OpenAI’s main data center provider (source: The Information / Tech Crunch)…

  • …as if Softbank is trying to recreate WeWork, but this time in the Digital World. That worked great last time, didn’t it…

  • …which would fit nicely with my expectation that OpenAi has a down round at some point, and that would be too funny

In order to describe the current environment, I had to add a few labels to Marathon’s “Capital Cycle” chart. I hope Ed Chancellor won’t mind!

In any case, February has been brutal for investors, as our Meme to start the month predicted (“Shrub’s Paradox”).

But do not despair! For I bring you hope. There’s one little problem though. First…

“NVIDIA MUST DIE!”

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