“Imagination is more important than knowledge. For knowledge is limited, whereas imagination embraces the entire world, stimulating progress, giving birth to evolution.”; "A person who never made a mistake never tried anything new." — Albert Einstein
"Genius is one percent inspiration, ninety-nine percent perspiration.” — Thomas Edison
To spend or not to spend? For anyone using AI infrastructure, from Google and Anthropic to a wave of other AI companies, that is the existential question right now.
History hints at the answer. Every industrial wave rewards the builders, and firms that poured money into steam, then electricity, then computing pulled ahead. Rivals who held back lost ground or were wiped out — Kodak is a case study in business schools for exactly this reason — but winning requires more than simply investing on time. Overbuilding risk exists when future demand forecasts are uncertain, akin to the Dot-com crash after the late-90’s telecom infrastructure boom where demand lagged capacity. The pattern is old but consistent: capital spending is how leaders stay leaders, and that spending should be disciplined to match forecasted demand.
AI is the next general-purpose technology, a breakthrough broad enough to reshape nearly every sector. To lead in...
