Strong opinion, loosely held — over the course of the next 50 years AI deployed via hardware will have an order of magnitude more impact than AI deployed purely via software. 

Think industrial production, manufacturing, energy, transportation. All orders of magnitude bigger than software.

co-founder stelo.com. theoretical cs phd dropout. into math, music, ml, macro, markets, surfing, writing amandhesi.net

Awesome take. 

Hardware moats can be > software moats. Companies may not grow as fast and capital structure def not the same, but really hard to dislodge when you have defensible, physical intellectual property at scale.