>chewy.com is literally pets.com and it is thriving.

Seems like a stretch, considering it's down 50% compared to a year ago.

https://www.nyse.com/quote/XNYS:CHWY

It seems pretty clear to me that we've exhausted the possibilities of the transformer architecture. Whatever we're using in 20 years will certainly be a different technology.

Chewy.com is not pets.com. They're in the same market, but it's not useful to say that a business built around limitless hypergrowth is the same as a business built around medium sized sustainability.