Ryan Miller

speaker

4,581 appearances 12 recordings 2 series first heard Mar 2026 last heard 10 Aug

Ryan Miller’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 12 in all, peaking in Jul 2026 with 4.

newest first · ▶ plays the moment

Then there's move number three.

Underwrite the power, not just the silicon.

I've already hammered this, but it's so important I'm making it an explicit standalone move.

So before you commit a single dollar, you verify the power, secured, permitted, deliverable on a real contractual timeline.

If the sponsor can't show you that, you do not have a deal.

You have hope dressed up as a deal.

And hope, my friends, is not an underwriting strategy.

Then there's move number four.

Stress the obsolescence.

Build the chip refresh cycle directly into your diligence model explicitly.

And then separate the long life infrastructure from the short life hardware and value them differently.

Make absolutely sure your return does not secretly depend on chip generation holding its value longer than it realistically will.

And run down the out downside case.

Not the base case, the downside case.

If the deal only works when everything goes perfect, it's not a deal.

It's a prayer.

And we don't allocate institutional capital to prayer.

Then there's move number five.

Prewire the exit before you commit, not after.

Ask on the way in, how do I get out of this?

Showing 1441–1460 of 4,581 · page 73 of 230