Munger talked on this.
“Disliking distortion. Bias from that. The reciprocal of liking distortion and the tendency not to learn appropriately from someone disliked.”
65 karma · joined January 17, 2015
“Disliking distortion. Bias from that. The reciprocal of liking distortion and the tendency not to learn appropriately from someone disliked.”
Redbulls gross margins are probably 90%. It’s basically just water, sugar, and caffeine sold for $3.
You can do a lot of great promotions if the cost of your product is a rounding error.
But what gives me pause is that a some of the mag 7 (think Meta) could change their mind on AI build-out tomorrow, and 1-year from now have the same amazing free cash flow they always did.
The market is both happy that Apple didn’t spend all its cash on AI build-out, but also at the same time angry that Apple is “missing AI”.
Not to mention the grumblings that Apple has peaked.