The only advantage the current hyperscalers have over 1999 fiber investors is the sheer magnitude of their existing profitable operations and balance sheet strength, which means they cannot go bankrupt in the near term, but this does not protect shareholders from significant stock price declines if margins compress and capital returns disappoint.
causalpending
Speaker
Chris MeredithEvidence Quote
“These guys can do it because they're not going bankrupt anytime soon... but I think the risk to the capital heated investor in the stock market and the risk to investors in the hyperscalers is capital being capital.”
Source
We Asked Chris Bloomstran Why He Won’t Own the S&P 500 At These Levels — And What He Does Instead— Excess ReturnsCreated: 8/12/2026, 6:13:17 PM
My Notes
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