The speaker argues that value capture moves through the supply chain with a bullwhip effect, so one participant's price increase does not immediately cause the whole supply chain to rebalance.

“And then, you know, SK Hynix and Micron and Samsung looked at NVIDIA like,”

“well, why don't they raise their prices? So I think the value capture, there's a bull whip effect here,”

“right, where just because someone has risen the prices doesn't mean the entire supply chain rebalances immediately.”