No horsing around here, just money math that says interest rates on debt sunk into datacenters will far outstrip the most optimistic revenue projections as of 2028-29-ish, when the bulk of the debt will come a-calling.

Also, inverse Pascal's Wager, because horse v/s motorcar is a false dichotomy... they are bound by the same laws of physics (faster horse, less shit, more noise and more smoke), merely different economic realities.

Hyperscaler bet is "Superintelligence" and/or "AGI", or we will make a God. That is a technological singularity. There will be a "before God" and "after God" world, and we will very likely never be able to understand what the AGI/Superintelligence's world looks like. (Because to understand what it is like to be a bat, you have to become the bat, but at that point your meaning of "understanding" itself changes entirely).

So I believe ten trillion dollars and a bunch of pirated books and source repos, and well pirated everything, mostly of very dubious quality and provenance, will not result in a God. I've been acting accordingly.