The AI wildfire is coming. it's going to be painful and healthy

VC is inherently high risk capital. It's by design most companies will fail or at most break even via acquisitions/acquihires, while a small few make investors massive amounts of money.

The only real difference this time around is all of the datacenters being built. There's real hard asset costs making it much riskier and capital intensive.

The big difference this time around is that this 'high risk capital' isn't a small amount, it's 1-10% of the entire economy.