00:00Everybody in Silicon Valley was starting a 3D graphics company.
00:03Over time, we competed with about 200 companies.
00:07NVIDIA today is the only surviving computer graphics company in the world.
00:11And so the question is then, what happened?
00:13I always believed that you need to understand the reason why your business works.
00:18What is the essence of your business?
00:20Now, the foundation of my business, at its core, is semiconductor technology.
00:24Here in Silicon Valley, we usually like to refer to semiconductor technology as Moore's Law.
00:28Moore's Law approximately gives you twice the performance every year or two.
00:32It was insatiable that if I made something twice as good every year,
00:36even if the customer never asked for it,
00:38even if the customer, when you went to float that product specification to them,
00:42told you that they're not interested.
00:44When your customers all tell you not to do something, the question is then, what do you do?
00:49In our case, because we had this unique perspective that 3D graphics was insatiable,
00:54and Moore's Law was our friend, therefore,
00:56we should make our graphics processors twice as good every year.
00:59And so for the first five years of our company,
01:01we just turned off our blinders and said, we're going to ignore customers.
01:05And the reason for that is because they don't know the nature of your business.
01:08And while the industry is being created,
01:10before there's common sense about the rules of that business,
01:13there is no way they can possibly know.
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