David Rosenthal: belief

Transcript context

…Oh, this is awesome. Okay, it's a couple years later, so it's getting more obvious, but it's 2016. Marc Andreessen gave an interview. He said, "We've been investing in a lot of companies applying deep learning to many areas, and every single one effectively comes in building on NVIDIA's platforms. It's like when people were all building on Windows in the '90s we're all building on the iPhone in the late 2000s." Then he says, "For fun, our firm has an internal game of what public companies we'd invest in if we were a hedge fund. We'd put in all of our money to NVIDIA." It was a paradigm that called all of their capital in one of their funds and put it into Bitcoin when it was like $3000 a coin or something like that. We also have been doing this. Literally, NVIDIA stock—this is now 2012, 2013, 2014, 2015—doesn't trade above $5 a share. NVIDIA today as we record this is I think about $220 a share. The high in the past year has been well over $300. If you realized what was going on, and again, in a lot of those years, it was not that hard to realize what was going on, wow, it was huge. It's funny. We'll get to what happened in 2017 and 2018 with crypto and a little bit, but there was a massive stock run up to like $65 a share in 2018. Even as late as I think the very beginning of 2019, you could have gotten it. I tweeted this, and we'll put the graph on the screen in the YouTube version here. You could have gotten it in that crash for $34 a share in 2019. If you zoom out on that graph, which is the next tweet here, you can see that in retrospect, that little crash just looks like nothing. You don't even pay attention to it in the crazy run up that they had to $350 or whatever their all time high was.…

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