Compute Is Revenue

Send us Fan Mail back in march i published a bullish substack essay into a collapsing tape. software stocks were getting butchered. hyperscalers accused of losing their minds. nvidia was falling like a broken momentum trade while missiles were raining down across iran and every idiot on television suddenly became a geopolitical strategist. but price was saying something else. software was no longer scarce. that was the whole point. once code starts writing code the scarcity moves upstream int...