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"Memory" hides three different businesses. Only one prices like a monopoly.

Aug 25, 2026

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7 min read

"Memory" hides three different businesses. Only one prices like a monopoly.

DRAM, NAND, and HBM are not the same thing. Why HBM breaks the brutal memory cycle, the three companies that own it, and how it is taxing everything else.

Koh K

VIP

Amazon shortened its server life. Everyone else stretched theirs.

Aug 11, 2026

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7 min read

Amazon shortened its server life. Everyone else stretched theirs.

The 25-year headline you saw was about buildings, not servers

Koh K

VIP

AI chips became cities. One company builds the roads.

Jul 14, 2026

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7 min read

AI chips became cities. One company builds the roads.

Every AI chip needs a traffic system. One small company licenses it, collects royalties on it, and just showed up in AMD's chiplets.

Koh K

VIP

"Memory" hides three different businesses. Only one prices like a monopoly.

Amazon shortened its server life. Everyone else stretched theirs.

AI chips became cities. One company builds the roads.

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