History would suggest that the most efficient place to put the capital allocation layer for hardware businesses is inside the corporation. Why? It's a trade between generalism and having enough specialized knowledge and access to elite human capital to make high quality bets.
Casey Handmer
Casey Handmer24.7. klo 23.26
There's a massive ongoing shakeout happening in lots of hardware industries. I won't name names but it's wild to have been operating for less than four years and watch companies that massively out-raised us rise and fall, and the funds that invested in them disappear completely, in just that space of time. Yes, generative destruction and all that. But the overall signal is that it's really hard to know what is legit.
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