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Nvidia’s Risky Business

On January 1, 1870, Jay Cooke, hailed as an American hero for his role in financing the Union effort in the Civil War, signed a contract that would, if you squint, lead to world war. In 1864, Congress had created the Northern Pacific Railway Company with the goal of linking the Great Lakes and Puget Sound with tracks that would eventually run from Duluth to Tacoma; the charter included 40 million acres of land adjacent to the proposed line in exchange for accomplishing the build-out. For the ens...

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