Meta and SpaceX can use their balance sheets and capabilities to build compute without first securing an end customer that will monetize it at a very high level.

“effectively hoarding compute them and spacex are plausibly the like number three and the only plausible number three because they're hoarding all this compute they're using their balance sheets and capabilities to build compute to build compute without end customer that's monetizing at a huge degree and they have an actual balance sheet so they can go to the credit market and being like hey guys”