Coogan: Overinvesting in new tech waves is game-theoretically optimal for incumbents
John Coogan · Weekly Recap: Matthew McConaughey on AI, Nvidia x OpenAI · Sep 27, 2025 · at 6:48
TBPN co-host John Coogan discusses why major technology companies are pouring hundreds of billions into AI infrastructure despite uncertain immediate ROI.
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“I mean, if you're in the position to generate a lot of cashflow, it is kind of the per the game theoretic optimal thing to over invest in a new huge technology. You have to because if you don't invest in the technology wave happens, you look really stupid. You lose your job. If the technology wave happens and you invest, then you're good. And if the technology wave happens if the technology wave doesn't happen, but you didn't invest, you don't really get as much credit for that. Because then you're just kind of stable where you are. And so, it's this uncapped opportunity with a lot of downside if you don't invest, so people are pushing it.”
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