-Shake out over the next 1–5 years rather than an extinction-level event
-Many AI startups die or acquired for pennies.
-Infra spending gets rationalized.
-Big winners (a few clouds, a few chip vendors, a few vertical AI platforms) retain large value but go through volatility.
-Shake out over the next 1–5 years rather than an extinction-level event
-Many AI startups die or acquired for pennies.
-Infra spending gets rationalized.
-Big winners (a few clouds, a few chip vendors, a few vertical AI platforms) retain large value but go through volatility.
-Gen-AI application startups with no moat or revenue.
-Over-optimistic infra plays betting on perpetual GPU demand.
-Public market “AI story stocks” with valuations disconnected from profits.
-Gen-AI application startups with no moat or revenue.
-Over-optimistic infra plays betting on perpetual GPU demand.
-Public market “AI story stocks” with valuations disconnected from profits.
The insurance industry: 540 lobbyists = lobbyist per member of Congress.
2,372 lobbyists = 4.4 lobbyists per member of Congress. Eliminate the lobbyists & go with single payer.
The insurance industry: 540 lobbyists = lobbyist per member of Congress.
2,372 lobbyists = 4.4 lobbyists per member of Congress. Eliminate the lobbyists & go with single payer.
somewhere between feudalism and a Fox News segment.
somewhere between feudalism and a Fox News segment.
Yes, that’s right. Not innovation. Not education. Not capital formation.
Just… servants.
It’s like Adam Smith had a stroke mid-sentence and someone published his grocery list.
Yes, that’s right. Not innovation. Not education. Not capital formation.
Just… servants.
It’s like Adam Smith had a stroke mid-sentence and someone published his grocery list.