The private credit boom
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The Economic Impacts of the Chip Industry
Ethan Dawood, WU at FT.com: I think that the risk is definitely being dispersed. The bag holders are eventually big institutional investors or wealth managers and like basically people who can afford it. It'll be interesting to see if rising rates do start to bite; borrowing costs go up when interest rates go up. There's extraordinary concentration in the chip industry that goes far beyond the type of concentration we see in nearly any other segment of the economy.
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