Did Nvidia Stock Stay Flat for Ten Years?

Jason Calacanis says Nvidia stock did not move from 2006 to 2016. For ten years it was a nothing company with a $12 billion market cap.

The man had worked at Denny's. In 1993 he started a chip company no one believed in, one everyone thought was a feature, not a platform, not a product, and not much of a business. The stock price was pennies compared with the price today. Ten years ago it was less than $2 a share, and from less than two bucks the price is up 100 times. The company was making video game cards and servicing Bitcoin. He started it in 1993. By 2006 it was worth $10 to $12 billion, and the price did not move for ten years while he kept grinding. The company was his whole life, his whole business, everything. He held the vision and kept going, compounding, building a moat, and building an amazingly talented team. Four years ago the stock started to take off, up 20 times in the last four years. The company is the most valuable on earth and delivered the most profitable quarter in business history, $63 billion in operating profit, more than any other company ever. Then he was taken out.

The arc is disheartening. Something was done wrong, the facts are still coming out, and there is no rush to judgment or to diminish whatever he did that was wrong.