The AI Capital Trap
Why a transformative technology can still produce one of the largest capital-destruction cycles in modern financial history.
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Evidence first. Uncertainty stated. Arguments built to be challenged.
Primary sources
Claims link back to filings, original data, and first-party documents whenever possible.
Visible assumptions
Models and forecasts expose their assumptions instead of hiding them behind a conclusion.
Honest countercases
Strong arguments explain what could make them wrong and which evidence would change the answer.