Ethan Summers
speaker
1,339 appearances
7 recordings
1 series
first heard Feb 2026
last heard 28 Jul
Ethan Summers’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 7 in all, peaking in Jul 2026 with 2.
Appearances
We've seen that happen with the dot-com crash.
We saw it happen with the mortgage crisis.
We've seen it all the way back through history.
On the other side of that is the people saying, no, it's not like that at all.
They say things like the circular cash economy is pretty overstated and that misses a lot of texture.
They say things like the people making decisions have asymmetric information that we just don't see.
They say things like it's really not .com.
It's more like the cloud boom, which didn't have a bubble burst.
So let's get into that today.
Let's start by laying out the argument in favor of the infinite cash economy.
It's true, right?
I mean, it seems true, at least, that Nvidia is sitting at the top of the pile, making their GPUs every six months, and then they work with Microsoft and OpenAI, and we're seeing...
numbers in the billions, I mean, approaching trillions of dollars in investment going into a space where there doesn't seem to be a lot of demand.
People talk about, you know, cat videos taking down lakes because of the water they're using.
I don't think the concern is actually that as much as just is this actually a circular cash economy?
That asymmetry of information is a tale as old as time within industry.
And in some ways, it's almost an appeal to expertise where you just say, well, they're an expert, so they must know.
And that can get you in trouble fast.
But also, I think when you look at who it is, that doesn't matter here.
You know, Microsoft is not a young buck new to the game.
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