I'm not sure where you get your numbers re cash flow, but your analysis is counter-intuitive. Anecdotal observation suggests that there is no way we are slowing down; rather we are accelerating as the internet hits the sweet spot of the so-called "S-curve." Surely, Zeev, if we went "back to the future" of the development of the electric engine, you would not say, as the engine began to be incorporated into our daily lives, that the demand for such engines was "peaking" :)
I completely agree that capitalism generally results in overcapacity, and it will probably happen again. I just don't think it will be as destructive as its been based on the internet, wireless, the Asian crisis, just in time inventory, the nimbleness of management, ECM's, fabless companies, history, etc. You know what Gillette (maker of Right Guard anti-perspirant) calls China? "Two billion armpits."
I love you anyway,
Prophet |
