@JessTheUnstill One thing I learned in the 90s while consulting for an investment banking boutique...

Capital likes to invest in businesses where capital is the real moat. Canadian businessman Peter Munk was once asked why he invested in resource businesses. He replied, “Because two guys in a garage can’t invent competition.”

Capital has now invented a way for capital to be the scarce resource in software development. Peter Munk may rise from the dead to invest in data centres.