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The Day Inflation Broke

The Compound and Friends

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How Does Apple's Margin Collapse?

Tech and communications margins are extraordinarily high relative to history. What can make those margins come down to historic norms? It's hard to say it. How does Apple's margins collapse? I don't know. Well, if they have if they have apples a tough case, but if they have trouble politically in China, that's a really big issue. They have to start manufacturing their own shit.

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