On Thu, Nov 20, 2025 at 10:34 AM, Steven L. Robinson wrote:

> 
> But would we expect any bubble to first burst on the chip manufacturing
> side?

I expect every bubble is the same and every bubble is different. The circle 
jerk of tech titans buying and investing and selling to each other is 
unprecedented as far as I know. NVIDIA is ALSO an investor in the data centers, 
so there's that. An increasing portion of NVIDIA's "earnings" are accounts 
receivable. With an increasing lag in receiving payments.


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