Wall Street was willing to pay 40 times earnings for Costco and Walmart, while hyperscale cloud service providers with revenue growth four times faster were trading at only 20. Clearly, selling toilet paper was safer than building the infrastructure for the greatest technological revolution in human history. This is the pinnacle of financial shrewdness. The market pays a premium for capital preservation while simultaneously discounting capital formation. Wall Street wanted a burst of productivity, not an investment cycle. Genius. And this is where liquidity tightening comes in. Capital becomes expensive, the market punishes capital expenditure, fewer projects get funding, supply becomes tighter, and suddenly, the infrastructure that everyone refused to fund becomes more valuable.