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The difference between software engineering at large corporations and small ones will increase. Start-ups adopting practices of Google will look even sillier than before, because they can now build so much faster and with so much less constraints.
So it does not seem as though U.S. preferences in the Persian Gulf will be achieved - which means prices in general and energy prices in particular are likely to stay high.
Technologies are not neutral, but political. Money is indeed one of the incentives, but not the only one. A mixture of millennialism, eugenics, search for utopia and for a spread of the specie beyond the confines of the Earth, are all elements we find among the founders’ views.
The best way is to be strong, sovereign, hard-working and deeply competent. Ideally with an uncanny ability to start ambitious infrastructure projects and finish them on budget and on time. Shout-out to our nuclear energy sector for nailing that. Do that and every other problem melts away.
In the most early adopting tech pioneering place that's Silicon Valley new startups aren't even building software anymore And it's debatable if anyone will actually need a custom harness or it won't just be generically offered by the AI frontier companies So software is mostly dead and hardware it is
For knowledge work, which is roughly half of the U.S. economy, AI is as fundamental as electricity (or quickly will be so, with rapid improvements to agents in the next 18 months).
there's still a lot of startups in this batch that are not shipping fast enough. And so obviously there's variation in shipping speed. It's not just the rate at which you can produce things. You have to think of these ideas first, right?
Because solar has, broadly speaking, won the technological race. Intermittency was the last big problem, and batteries have gotten good and cheap enough to make solar reliable.
Whatever good he did with his early advocacy for electric vehicles has now been undone a hundred times over with his advocacy for the people who hate EVs and all the other things we need.
Extremely severe extinction events happen every 100M years or so and just switching to sustainable energy will not be enough to stop them. Space satellites to control temperature and massive geo-engineering will be needed or it will be game over.
Met a German founder this week and asked him if all the stories one reads about the challenges of startups in Germany are exaggerated. "No, they're understated." Proceeded to describe spending a full day having a 90-page investment contract read to him (mandatory under German law; § 13 BeurkG) by a notary that then charged €30,000. That was for his first company. His second company, needless to say, was not incorporated in Germany.
This is a computer system made for pros, and I mean that in the sense of professional computer lovers. People who are willing to invest time and energy into learning how their system works, and reap the benefits that come from that investment.
Every decision has a cost in terms as we've seen the brain having to put in invest fuel to make that decision. So if you're having to do that every time you make a decision, that can seem very burdensome. Whereas if you did it once in a big way where you planned it out for the day or the week, maybe the costs in terms of the activation energy required for the brain is much lower for you if you do that.
It's showing us that apathetic people use more brain energy when they're making this decision. They have a bigger activation energy barrier to overcome because when they're making that decision, the brain is consuming more energy. It's consuming more glucose when it's doing that.
I think it's all about having regulatory clarity and ease for all sizes of of companies. Um and if we can work with Congress to do something like that, I think that would be that would be the biggest boon for for for startups.
if if DC is in a vacuum isn't hearing anything from the startup ecosystem or even from big tech ecosystem or even from financial services or all these different industries, we can't make the best decisions.
The supercomputer inside our own skull runs on about 25 watts, which hints that the minimum energy needed for intelligence might be small - and that the giant, controversial AI compute centers we're building now may turn out to be a temporary blip rather than a permanent feature.
But the problem of nuclear today is like the Toyota Camry problem, right? Like we don't want to make Lamborghinis. We want to make a very simple, very cheap, very safe reactor that we can make literally tens of thousands of. Um and actually that is going to make the cheapest energy in the world, right?
Energy is the fundamental input to uh the quality of human life. U if you look backward into time and say how did humanity go from one standard of living to the next, it's always unlocked by cheaper energy, right?
And the type of risk that we are asking investors to take is um, we know the physics works. We know that there's infinite demand and how we go from here to there is technology execution. And guess what? Venture capital in the United States is the best at underwriting tech risk of anywhere in the world.
If you keep asking this question, what you realize is energy is the fundamental input. When we figure out AI and robotics that allows us to do semi-aututonomous manufacturing, energy will become the cost of all things, right? The cost of buying a thing will become the cost of energy used to make it.
Chips come from the ground. Where's the energy come from? And a lot of people are like, "Oh, it comes from the sun." Yeah, it comes from the sun. But how are you capturing it from the sun? From stuff made from the ground, right?
But um I think the whole point of that project and the graphics was it isn't really just about a grid of pixels. It's the metaphor and the idea and the meaning behind everything.
It seems pretty clear that the only thing data center opposition is doing is pushing data center construction to the (many) places in America that won't regulate energy or pollution. Weird thing to pat oneself on the back for.
Many startups are racing to create foundational world models, but I think the first ones to succeed will likely be the platforms in control of this data bank.
And so speed determines success and failure and speed is determined by infrastructure. This is driven by really boring sounding things like how well do your purchasing and recruiting and spending processes work. This is as important as how well do you understand understand the object level technical content of the thing that you're building.
And one of the harder lessons as a startup founder, one of the harder things I think to to really deal with is the fact that you cannot delegate your judgment. As as the CEO, you must always make decisions that make sense to you, no matter how much momentum or inertia alternatives seem to have.
You know, in hindsight, I think that um that was a a poor intuition. Uh it's been pretty robustly and reliably the case over many decades in Silicon Valley has a surfeit of opportunities.
But now, people know that, well, the risk of the status quo is actually extremely high. And so, even if there's risk in doing all the new things, well, this path also looks pretty dangerous. And so, I really think there's never been a better time for startups to to sell um and to have their products get adopted at, you know, pretty meaningful scale right out of the gate.
So, I um yeah, I think maybe maybe a better way of saying it is 20 20 years ago that whole lean startup thing was uh was almost the only thing to do because of capital available and you didn't have AI that made, I don't know, spinning up an organization with many different potentialities and capabilities so much easier, whereas now I think you can start these much more aggressive and ambitious things up front.
many of the companies that were most successful over the last 10 years, so many of them are are very anti-lean startup, right? Uh whether it's, you know, the labs themselves or Anduril or um yeah, you you you you can go down the list. A lot of them have this characteristic.
Yeah, I mean I think uh sometimes it's uh a product that you build that might have access to particular kind of data that the underlying model might not the a general model. So it might be you're building something to help users organize all their own personal information and the model won't necessarily have access to that. And so there you can have a big advantage because all of a sudden your model has visibility or your product has visibility into important data.
Yeah, I mean it's a little different, but I think uh you're going to see more and more uh uh high performance and um low energy uh inference hardware systems because I think everyone is now realizing that inference is the key to making you know these agent-based systems be available to more and more people and that latency is really important and that specialization of the hardware is a really key way you can make uh things that are more energy efficient and lower latency than more general purpose uh computational devices like say GPUs or TPUs
Um because if you didn't have that thousandx difference then you know you wouldn't have to do batching but you have to do batching of you know many examples or maybe many tokens at once in order to amortize that data movement
Yeah, I mean I think if you looked at what is important in AI systems these days, you would want to know things like the bandwidth between you know your main memory system on your accelerator to the onchip memory to the um you know the multiplier unit or whatever. You want to know how much energy does it take to do a single multiplier operation.
but I can tell you with first hand experience nuclear power plants do not care about this stuff. They're actually just fine with with with thorough testing.
And now I actually think with the power of agents um and AI broadly speaking, it's much closer to Goliath versus Goliath. Like I think but maybe the startup is like a Mecca Goliath that is like vastly enhanced by the power of agents and AI and you know, the the large companies are the sort of like more traditional Goliath, so to speak. But I think that startups now like if you properly embrace AI agents and um figure out the way to leverage their strengths in the most like ambitious ways, you can easily outcompete incumbents.
I think concentration of power has basically been bad in every moment of human history um to varying degrees of course but I have a real spirit and I think this is part of the startup spirit of thinking that the world, the economy, society is the best off when power is very widely distributed
it is both true that you know maybe creating super intelligence will be the most important thing yet to happen in the history of business or human society and also that it will pale in comparison to some new startup something that hopefully one of you will do.
In fact, if if we are right that AI is going to be such a big change, startups will be much more important to making sure that the power of this technology gets widely distributed throughout the economy and society and is not just concentrated in a few companies or models.
one of the most important things we discovered along the way is it's extremely difficult to iterate with outside suppliers, particularly outside suppliers in aerospace, which are let's just say I have no kind words for them. So we chose to build our own machine shop. And now we can go from a digitally designed engine part to a prototype part in about 24 hours.
the the big lesson is that for me is technology is changing all the time, and so long as you're able to confront the reality, so long as you are able to learn, the technology itself actually doesn't matter.
one of the things I've always believed believed in is what makes great companies is a unique perspective about the world that you deeply believe in. It's not so much the technology, it's not so much uh the market even.
And what they found is there's kind of this um bell-shaped curve between energy availability and brain volume. And in general, brain volume, right, the more the better, right, we think. And so if you're chronically calorically restricted, your brain is smaller um because you just don't have the resources to invest in, you know, the structure um and to maintain it. At the other end, you see the same thing. So if you're chronically in a chronic state of chloric excess, you also tend to have a smaller brain on average.
You think this is crazy low but ~5% ownership probably the most common final % most VC funded startups will have when they work out, especially when you have a co-founder
I think of it like this: any person has an innate curiosity about life, and an energy toward it, that may manifest itself in all kinds of ways throughout the course of their life.
To meet the global population’s protein needs through factory-produced bacterial protein in 2024 would have used more than the total global electricity generated using renewable (hydro, photovoltaic and wind) energy
Another is that it isn’t ‘food from thin air’ as is often claimed – as well as the high energy use, it’s food from a lot of tap water, minerals, ammonia and industrial infrastructure.
but I do think that in a future of probable energy constraint there will be a need for a more peopled agriculture, with populations spreading out to tap diffuse solar energy input.
a more relevant metric in the long term is the cost, not the efficiency, of food production methods at sustainable levels of energetic and material throughput.
I think like in startups the term is agency. Like somebody who's high agency who's just going to get things done, who's never going to like say no to something. I think like that attitude is really important of like okay, if I don't know something, I'll just learn it.
Generative AI has no internal, designed momentum towards truth and accuracy (beyond the absurdly diminishing returns of energy-hungry multi-layered LLMs), but a person or an institution can (and should).
And usually I like the customer is hyper scale. They have the scale. If they like what you have, they're willing to pay millions of dollars next few years. And even giving some warrant is worth it because you have a big one customer, you can scale.
if if we're if we're too ambitious and we're at the outset and too ambitious and visionary about the product we want to build, then we will probably miss product market fit because we won't start at a small enough humble enough place
in the Peter Teal sense it's almost a moral arbitrage because there's something in our gut as a product you you became a founder an entrepreneur because you wanted to go be an innovator and so it can feel like a beatdown that your path to innovation starts with copying other people's work
I think part of the theory is like if you're building tools that are this complicated, you kind of want to have a 10 to 15 year time horizon on on building out these efforts.
I think the the whole industry bends towards youth for that reason and because it's a hustle business like there there's there's always a rock you haven't looked under and you know age brings children and homes and and and other requirements you get tied to and responsibilities and you're just not able to go spend 80 hours a week studying YouTube like you just can't.
because a lot with electricity, a lot of the downstream benefits actually came to like the users of the electricity rather than the rather than the actual entity producing the electricity. On the other hand, with social media, it was the opposite case, right? Social media, you know, it was everywhere. Everybody uses social media, but the rents went to the platform.
So, I think there is a world where it is concentrated, in which case it's going to be really hard to index AGI. There is another world where it is not It's electricity, then like basically every company has access to AGI. So, you just buy you use buy the index. So, like, you know, Nigeria just needs to buy the index.
I I definitely think I'm so aware of the fine line between success and failure, especially on your first company. And and and it's so it pains me how much founders and es especially I see it in men, not all men. And I have four sisters and a bunch of daughters. But I would say I see it in a lot in men and and friends, college friends, people I've grown up with that if they had an initial failure, if they had failures, they get attached to it and they start feeling defined by it
The way I think of the abyss is it's this place that we go to as founders and entrepreneurs after our thing, after it dies or it's bought or it's over for whatever reason. It's this amorphous place that we are in our life that has no structure.
What the current conflict in the Gulf - in particular the closure of the Strait of Hormuz - is going to do is to provide a further push to global attempts to reduce dependence on fossil fuels.
We are about to see the Great Clean Energy Acceleration 2.0 - a discontinuity in energy markets as profound as the oil shocks of the 1970s, and one that could bring forward the peak in fossil fuel use and emissions to this side of 2030.
the joke I made was pre AI, I would spend 95% of my energy thinking about what to do and 5% of my energy doing it. Now I spend 96% of my time thinking about what to do and 4% of my time actually doing it. So yeah, it's like a 20% improvement, but dayto-day it feels as hard as ever.
According to Harvard Law School, among venturebacked companies that have the standard best practices set up that you got from your lawyer, okay, only 20% of founders are still the CEO 3 years after going public.
so many of the best practices that your lawyers, your bankers, whoever advisers you have, they're going to be pushing best practices on you that are younger than the trees in your local park.
I call it the force that no one controls but everyone obeys that tends to drag organizations down into mediocrity to the point that we lose control of them. Now, sometimes we lose control of them because we get fired.
The Lean Startup helps you build a valuable company. Incorruptible is about how and why to protect it, keeping a company mission-driven over the long term instead of letting it rot from the inside.
Nor nor did I I would say my mistake is I didn't deeply internalize that they they really had no other options that that that a VC would never put in 510 billion of investment into an AI lab with the with the hopes of it turning out to be anthropic. And so that was my miss.
Computing is not like that. There's a reason why the x86 still exists. There's a reason why ARM is so sticky. These ecosystems, these ecosystems are hard to replace. It costs an enormous amount of time and energy and most people don't want to do it.
The link between venture capital and evangelical Christianity was closer than I thought. They're not just analogous; they deliberately cross-pollinate.
What I see now is, well, "I'm a a programmer and I've got six agents. So, really I'm managing a team." No, you're not. You're using six tools at once, which is fine. But, it's that's very different than having a conversation with somebody who believes things that are a little different than what you believe.
We may have a handful of genies, but that's different from having a handful of friends, right? In part because the energy's different, the conversations are different. Also, they just agree with us constantly.
So, space data centers effectively are not li limited by, you know, hey, we have this energy advantage. It's actually just limited by the same contended resource. We can only make 200 gawatts of chips a year by the end of the decade.
I believe that data - real-world data, mostly human-generated, validated, and cleaned - is the only reliable moat we have as software founders in the near and mid-term future.
At Anthropic, we don't build for the model of today, we build for the model of six months from now. And that's still my advice to founders that are building on LLMs.
I see no evidence that I'm dragging people along with me. I feel like each each book feels like another startup and that I've got to go out and make it happen almost as if I've not written one.
we will see batteries aggressively displace transmission as the most cost-effective way to ensure continuity of electricity supply, leading to an eventual pruning of the grid and drastic reduction in the average distance that power travels between production and consumption, even as the average time that power is stored increases.
Their words now
Do we need to drastically expand the grid in order to metabolize renewables? No.
On the flip side, these captive solar power plants will be curtailing approximately 75% of their generated power and will be able to provide net power on all but a few days per year.
The only highly populated industrial country unable to trivially meet its electricity and synthetic fuel needs with solar alone is the United Kingdom, due primarily to a high population density and high latitude. The Nordic and Baltic countries are tiny by comparison. Among other problems, the UK needs to decide if it wants the future where energy is cheap and it is rich, or the future where energy is expensive and it is poor. If the former, it is time to get serious about large scale deployment of wind power, using home-grown vertically integrated technology at prices as low as $10/MWh.
investors at many tech companies, including most on the large cap list, have given up their corporate governance rights, often voluntarily (through the acceptance of shares with different voting rights), to founders and top management in these companies
I just realized the only 2 countries left with actual substantial startup activity now are literally only the US and China The rest of the world can't really do startups, doesn't have the funding, can't grow them and it's more like performative hobby projects for their governments Which might tell us where the future wealth will be concentrated in the world
AI has been compared to various historical precedents: electricity, industrial revolution, etc., I think the strongest analogy is that of AI as a new computing paradigm (Software 2.0) because both are fundamentally about the automation of digital information processing.
But politics aside, what’s notable about that 2001 report, put together by men who regarded themselves as hard-headed realists, is that it envisaged an energy future reliant almost entirely on fossil fuels plus a bit of nuclear energy.
there are many people who still refuse to believe that renewables can be practical even as renewables keep growing around the world, in fact accounting for the bulk of growth in electricity generation
In general your body would rather use glycogen than fat, because glycogen loses almost no energy in the conversion from and to sugar and fat loses a lot.
A Lawrence Berkeley National Laboratory study found that state-level load growth from 2019 to 2024 — including growth driven by data centers, manufacturing, and electrification — was associated with lower average retail electricity prices, not higher ones.
I think especially if you have a product that has daily frequency like that's actually the retention that matters the most is that like of your existing user base that has developed a habitual pattern how sticky is your product and it's that retention rate that really compounds and build that builds that daily habit.
I saw some of the highest performers just being people that had very high agency, had that clock speed, had that energy. Um, yes, they they cared about the mission, but they didn't necessarily need to have deep experience on that matter. And in fact, sometimes that experience could be a crutch in certain ways. Especially in this world where the grounds are shifting so fast with AI, a lot of your like learn habits actually need to be intentionally discarded. You know, you need to have a beginner's mind on this type of stuff.
I think this situation, this historic wrong that’s been done is, put simply, is just a gigantic PR mistake for France. There’s no entrepreneur that sees, that aspires to be the next Pavel Durov to create the next Telegram, sees this and wants to operate in France after seeing this.
They miserably failed because LSD… Is not the truth drug. LSD maybe leads you closer to your own truth, because when suddenly the default mode network receives less energy and other parts of the brain think more, and the neuroplasticity of the brain is enhanced and stimulated, you might understand something about your life.
no one carries the full legitimacy inside of a company. Legitimacy is a currency in a companies. No one carries the full legitimacy in a company, even the CEO. The CEO just has a lot of input on the plan. The plan carries the legitimacy.
The average European and UK voter, once he or she moves on from immigration, will notice how Europe and the UK have made energy unaffordable, stopped its growth-exactly as degrowthers wish-and deindustrialized, on the altar of climate policies that do nothing to improve the climate.
This must be Europe's Independence Moment. I believe this is our Union's mission. To be able to take care of our own defence and security. To take control over the technologies and energies that will fuel our economies.
And it sort of fits with the way I think about physics in general, which is that I think information is primary, information is the most sort of fundamental unit of the universe, more fundamental than energy and matter.
I think fusion and solar are the two that I would bet on. Solar, I mean it's the fusion reactor in the sky of course, and I think really the problem there is batteries and transmission.
Shoulder generation (in late summer) of any given year is generally a higher share of global electricity demand than the peak generation (spring) of the year prior.
Many years ago, I think it might've been 2017 or 2018, I said at the time, AI is the most profound technology humanity will ever work on. It'll be more profound than fire or electricity. So, I have to back myself. I still think that's the case.
While renewables are almost always blamed in the aftermath of major power cuts or grid disruption - and the way they have been integrated into the grid has certainly been found to compound problems - the simple failure of wind or solar power to show up has never yet been found to be the primary cause.
this technology, consistently underestimated, now adds more capacity to the global grid than anything ever and will soon add more power in any given year than anything ever as well.
CCS can never be competitive in the sense of working economically in the absence of a policy framework to price in the cost of carbon, unlike clean electricity.
The gravity of existing decisions in current systems requires so much energy to reach escape velocity that you tend to conform rather than explore. Essentially you're bent back to where you started, rather than arcing out towards a new horizon.
I would say, multicellularity which is strictly an energy problem, I think. Again, it’s just like can electrons flow the right way. And is it energetically favorable for multicellularity to exist because if it’s energetically expensive, it’s not going to succeed.
It becomes impossible to imagine that life was not sparked somewhere else, in our Milky Way galaxy, and maybe even in our local neighborhood of the Milky Way galaxy, maybe within a few hundred light years of our solar system.
And so I would say, yes, we are just giving proxy names to things we don’t understand, but to dismiss that as some kind of, “Oh, they just don’t know…” It is actually quite the opposite.
I have written forewords for Amir in the past on two of his prior books, Ecosystem Arabia: The Making of a New Economy and Venture Adventure: Startup Fundraising Advice from Top Global Investors, both of which I recommend.
Without the construction of huge amounts of new energy infrastructure, like nuclear power plants, we cannot meaningfully increase our manufacturing output.
And it struck me how the most well-known brands have stood for one clear thing. Like they have a clear position. And so in order for superhuman to be memorable, I believed that we needed to occupy a clear position that was unique and which was available and which reinforced our product strategy.
I knew that our competition was not going to be startups. It was incumbents. And I also knew that incumbents generally struggle with speed because by definition they have massive scale and usually entrenched architecture.
I think that they're trying to shift the narrative. They're trying to protect themselves. We saw this years ago when ByteDance was actually banned from some OpenAI APIs for training on outputs. There's other AI startups that most people, if you're in the AI culture, were like they just told us they trained on OpenAI outputs and they never got banned.
Interesting thing is certain regions of the US transmitting power cost more than actually generating it because the grid is so slow to build. And the demand for power, and the ability to build power, and re-ramping on a natural gas plant or even a coal plant is easy enough to do, but transmitting the power's really hard.
So, Japan has a law which you're allowed to train on any training data and copyrights don't apply if you want to train a model, A. B, Japan has 9 gigawatts of curtailed nuclear power. C, Japan is allowed under the AI diffusion rule to import as many GPUs as they'd like.
Foundation, The Lessons of History, Unqualified Reservations, A Short History of Nearly Everything, The Selfish Gene, Albion's Seed, War and Peace and War, Stalin's War, Energy and Civilization, Who We Are and How We Got Here, The Ancient City, The Fourth Turning, The Grey Lady Winked
Foundation, The Lessons of History, Unqualified Reservations, A Short History of Nearly Everything, The Selfish Gene, Albion's Seed, War and Peace and War, Stalin's War, Energy and Civilization, Who We Are and How We Got Here, The Ancient City, The Fourth Turning, The Grey Lady Winked
Foundation, The Lessons of History, Unqualified Reservations, A Short History of Nearly Everything, The Selfish Gene, Albion's Seed, War and Peace and War, Stalin's War, Energy and Civilization, Who We Are and How We Got Here, The Ancient City, The Fourth Turning, The Grey Lady Winked
Foundation, The Lessons of History, Unqualified Reservations, A Short History of Nearly Everything, The Selfish Gene, Albion's Seed, War and Peace and War, Stalin's War, Energy and Civilization, Who We Are and How We Got Here, The Ancient City, The Fourth Turning, The Grey Lady Winked
Foundation, The Lessons of History, Unqualified Reservations, A Short History of Nearly Everything, The Selfish Gene, Albion's Seed, War and Peace and War, Stalin's War, Energy and Civilization, Who We Are and How We Got Here, The Ancient City, The Fourth Turning, The Grey Lady Winked
The inflation crisis was caused by massive overspending and escalating energy prices, and that is why today I will also declare a national energy emergency.
America will be a manufacturing nation once again, and we have something that no other manufacturing nation will ever have — the largest amount of oil and gas of any country on earth — and we are going to use it.
I really believe that the founder led growth is not being popularized enough that you do not need growth teams until you actually can start running experiments on your user base
There’s still plenty to worry about with respect to the environmental impact of the great AI datacenter buildout, but a lot of the concerns over the energy cost of individual prompts are no longer credible.
There's the first law of thermodynamics, which is just about the different forms of energy. Then there's the second law, which is about when you use that energy, Kardashev wasn't thinking about the second law. If you get all that energy and you use it, there is waste heat. You don't get to use it all.
Many software investors eschew hard tech startups because of their capital intensity, but it’s hard to deny that huge returns are possible in hard tech: just consider SpaceX.
Fascinating subject. Countries are made of stories. Kings didn’t need their subjects to agree, but nations do. So to build a nation, they need to make a story that helps people feel a shared identity, nationalism, and what distinguishes them from their neighbors. Back-creating a history. Founders of Israel did this brilliantly.
The Social Network is substantially made up, more a source for vibes rather than a source for facts. Even the vibes fail to cohere with reality. And yet it convinced many proto-founders to put in YC applications.
Each shift takes its toll, and everyone has a limit of how much energy they’re willing to expend on a new platform that will eventually, like its predecessors, join the graveyard of defunct websites.
You can set out to build a good business and it’s still fine. Maybe the long-term business model of Perplexity can make us profitable in a good company, but never as profitable in a cash cow as Google was. You have to remember that it’s still okay.
I think for me, the frontier in modern physics, where the new physics lies is not in high energy particle physics, it’s not in quantum gravity, it’s not in any of these sort of traditionally sold, “This is going to be the newest deepest insight we have into the nature of reality.” It is going to be in studying the problems of life and intelligence and the things that are sort of also our current existential crises as a civilization or a culture that’s going through an existential trauma of inventing technologies that we don’t understand right now.
In particular, operating a data center requires large amounts of electricity, and available power is fast becoming the binding constraint on data center construction.
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