https://minutesof.com/bill-gurley/on/circular-revenues/ Everything Bill Gurley has said on circular revenues: 2 verbatim quotes from October 2025, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:22:09 +0000 https://minutesof.com/q/ef7b15a8-cd98-4f36-a05b-c737f3951a71/ https://minutesof.com/q/ef7b15a8-cd98-4f36-a05b-c737f3951a71/ “One of the more peculiar of all the deals is, and this was disclosed in a CoreWeave filing, was NVIDIA has promised to buy any of CoreWeave's service availability that they can't sell to anyone else. That is very unusual. That's not the same as making an investment.” — BG2 Pod Tue, 14 Oct 2025 23:40:02 +0000 circular revenues https://minutesof.com/q/cf90251e-a478-4fa1-adf6-3445694c5eac/ https://minutesof.com/q/cf90251e-a478-4fa1-adf6-3445694c5eac/ “That could easily help CoreWeave with their debtors and and getting more debt financing. But it also means as a investor, we we don't know what's going on with real demand for CoreWeave because we probably won't be told if they start moving into the world where they're offloading to NVIDIA or not.” — BG2 Pod Tue, 14 Oct 2025 23:40:02 +0000 circular revenues