> Corporate profits drove more than a third of inflation from the start of the pandemic

This seems like it’s getting causation backwards. Shortages directly result in corporate profits somewhere, because there are companies that can raise prices. Most recently, in the oil industry, and in memory chips, and so on. Also, housing.

If there’s enough competing supply then they can’t raise prices. If there isn’t, they can and usually will.

Strategy often means anticipating shortages and having something to sell when they happen, but not overdoing it. It might be temporary but it can take years to resolve.

Deciding not to build new factories in anticipation of a memory shortage is a strategy. Often it’s justified by saying the shortage won’t last.

The people saying that the AI bubble will collapse are justifying a wait-and-see strategy that makes it worse.