Categories

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It's an understandable piece: It's an honest audit of where I may be wrong

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What markets miss when accidental winners arrive in low-inequality, lowly-indebted societies

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A new inequality with massive, long-term geopolitical, economic, corporate, and social consequences

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AI’s impact won’t be announced by a gradual S-curve. Using five indisputable priors, we arrive at five near-certain realities staring at us

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Machines will not just change what we produce or consume. They will change what we argue about. Permanently.

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China’s biopharma surge is policy-made: statutory clocks, silent approvals, and scaled expertise—creating a pipeline too fast to ignore

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History's lens distorts, not clarifies. From South Sea Bubbles to TMT, past patterns empower demagoguery more than analysis, as our piece playfully shows.

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For investors fearing the reckoning, remember: the modern policymaker doesn’t cleanse; they curate belief to keep the system afloat.

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A retro piece at the paradox powering this boom: immense nominal growth, including in spaces where real volumes falter

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The rising cost of equity (or falling valuations) is far more important than falling cost of risk-free debt