this post was submitted on 21 Nov 2025
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Let me fix that phrasing: "One of the richest men in the world complains that others did not give him more money after his business made so much money."
What a sad existence. Find some other form of validation, dude.
He pulled the same BS during covid, record profits and sales of the 30-series cards and he tells investors on a call "don't worry, we're going to get through this" as people started going back to work.
Pretended to make a bunch of money. Stock buybacks and giving AI companies money so they'll use it to buy your hardware doesn't count.
In a gold rush, the real money is in selling shovels. But you have to take cash upfront.
Which is fine and dandy until the gold miners realize that they aren’t going to find enough gold to make it worthwhile and stop buying shovels and the market value of your company depends on your ability to continue selling shovels. Twenty five years after the dot com bubble burst, shovel seller Cisco is only just now reaching the same stock price they peaked at in early April of 2000.
Market cap is just share price times the number of shares. Can potentially be completely divorced from how well your company is actually doing. Conversely, a drop or rise in market cap doesn't have to mean your company is doing better or worse. If you're selling shovels, you still have the money when the music stops.
Yeah, they did some shifty stuff to pad their numbers. They still made an absurd amount of money.