20VC: The Future of Datacentres: What You Need to Know | Why Everyone Gets GPU Depreciation and AI's Energy Costs Wrong | Who Really Makes Money From AI & Why Most Moats Don't Exist with Chase Lochmiller

Crusoe's CEO argues AI infrastructure's real bottleneck is power and labor, not chips, and half of planned data centers won't get built.

• Mountaineering as culture: Chase Lochmiller embeds "think like a mountaineer" into Crusoe's values—plan for change, endure hardship, safety-first—drawn from his own high-altitude climbing experience.
• Bitcoin-to-AI pivot wasn't a pivot: Crusoe always aimed to build an AI platform from day one in 2018, using Bitcoin mining to monetize waste energy while quietly building Crusoe Cloud, which launched early 2022 before ChatGPT.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.