Tomasz Tunguz

speaker

457 appearances 2 recordings 1 series first heard Jun 2025 last heard 16 Sep

Tomasz Tunguz’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Sep 2026 with 1.

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TBPN · S&P 500 at Historic Highs, Neuralink Update | DJ Seo, Tejpaul Bhatia, Tomasz Tunguz, Kendrick Nguyen, Kirsten Green · 27 Jun 2025 podcast

Right.

And so they they need uh a longer term business model.

So I I think there will be a pretty significant place for ASICs.

Mm-hmm.

You think about the different architectures of model.

I mean AMDs typically are uh optimized for sort of or have been in the past for medium sized models where the like the H one hundreds are much better at running the hundred billion or multi hundred billion parameter models because of difference in

Uh CPU architecture versus memory architecture.

So I I think there's definitely a really big place and

Well, no doubt about it.

And he's I mean, if you look at we went back and looked at the NVIDIA PE multiple over the history of the company, and you can see there are basically three spikes.

There's the first spike, which is associated with gaming, the second spike that's associated with blockchain, and now the third spike that's associated with AI.

And you typically have these really, really significant growth from say like a 25X PE multiple up to maybe like 70, 80, sometimes

hundred and then it falls back down.

Yep.

Right.

And Bill Gurley, I think I you know, I wasn't investing during the time of hardware uh or hard disks.

And he basically said the best time to sell a hard disk company was when it was ramping up because you knew that they would build excess supply.

Yep.

And as a result of the excess supply you'd have a sort of an inevitable crash.

That's it.

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