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A single company that never made a profit outbiding the entire world is normal?
Yes. In fact that's not just normal, that's very frequent in market.
Please provide historical examples.
The first known example is the 6th century BC, where a greek philosopher cornered the market on olive oil presses, because he predicted a richt harvest via his knowledge of astronomy:

https://en.wikipedia.org/wiki/Cornering_the_market#Thales_of...

Tyson Foods, Cargill, JBS, and National Beef controls roughly 85% of the U.S. beef market

CVS Caremark, Express Scripts, and OptumRx manage over 80% of all prescriptions in the U.S

Amazon buys 50% of all books.

These examples are even more extreme than at least 3 major clouds present in the US buying hardware.

The parent comment specified a company that has never turned a profit cornering the entire market.
Not even sure which company are they referring to. I assumed Amazon or Google or Microsoft or Oracle, but all of them have turned profit.

I don't think OpenAI purchase even comes even close to any of these.

Well, you think wrong. OpenAI is the one that pre-hired 40% of the world's memory fab capacity.

And if you are going to protest with the common "OpenAI doesn't even build datacenters themselves!", yes, they don't, and it's a complete non-sequitur.

It's normal market dynamics for markets dominated by quasi-monopolies, which is why regulation should have prevented the existence of such markets.
I don't buy that it's because of the monopoly. TSMC has been starting a fab for close to 5 years.

It doesn't matter how many companies are in this market, it takes a real amount of time to add capacity.

Maybe not normal market dynamics, but typical human behavior: https://en.wikipedia.org/wiki/Vincent_Kosuga#Cornering_the_o...