Invest in the Shortages & Bottlenecks: Ai & Power
The Compute Paradox: The Stocks That Win When Models Get Cheap — podcast summary
The thesis: the cheaper AI models get and the more their margins compress, the more gets spent on physical hardware. Lower software profits plus open-weight fragmentation equals explosive hardware demand. Three old narratives are wrong: the software oligopoly doesn't win everything, compute spend isn't a debt bubble, and compute prices aren't crashing — compute is heavily constrained with bids rising toward $100/watt. We're structurally short on watts, wafers, and capital, which makes the buildout slower and…
The skinny
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