Amazon Return RateGoogle's capex investment has already achieved economies of scale in the cloud. Not to mention technology and search, the moat is also unfathomably deep, which is crucial for model training. If you were to bet on which company would win in the AI era, it would most likely be one of them. Google's biggest risk comes from the U.S. DOJ.
Two questions I haven't figured out in the past two months:
1. Why did BRK buy GOOG shares? It's hard to understand making this move at this price—it was probably Warren's deputy who made the call, but I still don't get the rationale behind such a large position in GOOG.
2. Oracle is such a solid legacy software company with a wide enough moat in its existing business—why does it have to chase the AI hype? My take is that management isn't disciplined enough, and these decisions are genuinely hurting shareholders.
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