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"real technology" is not an objective measurement of societal value.

Except yes it is, because all these software apps are built on prior “real technology” and would be impossible without it. The flow of capital just doesn’t reflect that (and it’s not clear it should).

But Mellanox is making niche equipment. You don't need an Infiniband interconnect if 10-Gig Ethernet will do the job. Only densely "coupled" problems, where the answer calculated on one core affects the answer calculated everywhere, need that kind of ultra-high-end interconnect. Your typical app scales very nicely across a bunch of servers connected with commodity networking.

This is more like a race car company not being as valuable as Toyota. Yes, the technology of the race car is unbelievable, but there are only a few thousand race cars in the whole world and there's a Toyota in every household.

Wait another thousand years, and tell us that again.

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