A lot of businesses operate at a 5-10 year time scale or more. Take all these AI datacenters being built. That takes a long time. You need to obtain planning permission from the local government. You need to buy the land, get all the utilities you’ll need to the site (they use a lot of water and electricity). You need to build the actual buildings. You need to put in an order for the computer hardware so it’s available when the building is done. You need to actually build the buildings.

Some of these can be done in parallel, but a lot can’t. You can’t lay out the electrical or cooling paths until the building is built. You can’t start installing racks until the electrical and cooling systems are in place. You can’t start installing servers until the racks are all ready. You can’t start connecting the servers and everything until all the electrical, cooling and networking setup is done. And, at every step there are going to be setbacks, especially when you’re building something new and innovative, and not just plopping down something you’ve built 100x before.