I think you are 100% misunderstanding what they are saying.
They are saying almost no one in Texas can walk to a grocery store. Hence, it is a flex if you can. And Europeans don't understand that it is that unusual.
There is a certain amount of capacity to produce memory. They are building new facilities but it takes a long time. They have been burned going down this route many times in the past (e.g., losing money, firms that are no longer in business).
FWIW, what you will see at times in the HF world is a firm will want to get into a strategy and build competing teams. It lights a fire under both. It diversifies the risk. You can select winner and move some people over from loser. And if they both work, they both work.
It isn't a crazy idea if the opportunity is large enough to make the larger investment required worth it.
The problem I see in applying this to products is it can be very confusing for clients.
After you wrote this, I went and read the article I also didn't see much there either. And wonder why you are getting down voted. And TBC, also not a tesla fan (the truck is dumb).
Perhaps if an ETF holds similar underlying instruments. It is unlikely this impacts Blackrock more broadly or other unrelated ETFs.
Stepping back, the idea with private credit was to move a lot of lending and credit risk taking away from the banks. Because if the bank fails, then it causes risk to the financial system. If a private credit fund does badly, you have sad investors. But the broader financial system is not imperiled.
And there will always be periods where credit does badly. It is the nature of these markets and lending.
TBC, I think the private credit guys got over their skis over the last 5 years and we'll see some sad investors in the next few years.
I'm a long way from embedded development. But I was under the impression a lot of microcontrollers these days have some ID capability built in, even some relatively low-end ones. This strikes me more as laziness than anything.
What point are you trying to make? I'm honestly not sure. Is it that China is polluting a lot? Or a little? That they are making environmental progress? Or none?
They are saying almost no one in Texas can walk to a grocery store. Hence, it is a flex if you can. And Europeans don't understand that it is that unusual.