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> I/O is inherently very slow compared to computation

This isn't really true anymore. IO has bad latency, but modern SSD bandwidth is ~5-15GB/s. If your program is IO latency bound and processing less that 5GB/s you aren't IO bound, you aren't hiding your latency well enough.



> modern SSD bandwidth is ~5-15GB/s

That's nothing compared to modern memory bandwidth.




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