Altaba

Yes, agreed, it is timing. I think a sign we are getting closer is the new equity issuances, which kind of are leveraging the current environment and the retail excitement.

well its typically when it becomes clear that the private equity firms taking the risk decide they can not get the returns they need, forcing the backstoppers such as Nvidia to take that burden, and the whole ecosystem collapses.

Ben is wrong; demand for compute, aka revenue backlogs, is mythical and will collapse, simply because of two reasons :

1. Circular investment/spending.

2. Too much capital in the system, so returns cannot be hit regardless because the barrier is too high. (Evidence being every capital cycle in history)

Might be to prevent the number of investors on the cap table to prevent them from being forced to IPO, considering their competitive position is weak.

Weird how the world has progressed, in many ways it is much better, from a standard of living, in others it is much worse.