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>I wonder what the thinking was that lead Pano Logic to put expensive FPGAs

Cloud Computing got really hot in 2006, it was perfect time to milk suckers. https://www.crunchbase.com/organization/pano-logic mo was finding bigger idiot before running out of coal.

Reminds me of another 'we will make it up in volume' dotcom scam I-Opener https://en.wikipedia.org/wiki/I-Opener selling ~$500 worth of computer and LCD monitor at $99




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