Gavin Baker
speaker
1,686 appearances
2 recordings
1 series
first heard May 2026
last heard 4 Aug
Gavin Baker’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 — 2 in all, peaking in Aug 2026 with 1.
Appearances
Markets are efficient.
They correctly understand that this is a foundational new technology.
There's what Mobusin calls a breakdown in diversity.
Everyone becomes bullish on this new technology.
And I am beginning to worry a little bit about a diversity breakdown.
And then you get a bubble.
That bubble funds the build-out of this new technology, but supply gets ahead of demand and you get a crash.
And it's a particularly severe crash if it's a debt-fueled build-out like the year 2000.
And one thing is really good about the current build out is it's still overwhelmingly funded out of operating cash flows, which is a really important fundamental difference versus the year 2000.
Has is valuation, has is the fact that every GPU is running at 100% utilization when 99% of fiber was unutilized.
So there's all these fundamental differences.
History doesn't repeat, but it rhymes.
And as an investor, we have to be very cognizant of it and recognize that based on the last.
Last two or three hundred years, you know, forget the internet bubble.
We had a railroad bubble, a canal bubble, every kind of bubble, South Sea bubble.
We should expect a bubble.
That's terrifying.
Nobody wants a bubble.
And the reason it's terrible is if you're evaluation sensitive, you like massively underperform, you get fired by probably all your clients.
George Vanderheyden, who is no longer with us, Great Fidelity Portfolio Manager.
Showing 1001–1020 of 1,686 · page 51 of 85
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