In The Bottleneck Trade, Part II: Own the Metals Layer, I argued that the smartest place to look is not the machine.
It is the stuff the machine cannot ship without.
·8 min read
The Bottleneck Trade, Deep Dive: Arafura Rare Earths
The real bet here is not rare earth demand. It is whether the West is finally willing to pay to solve its own dependence.
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·4 min read
AI Is Creating an Inflation Nobody Is Measuring
The cost of producing music, code, and digital labor is collapsing. The volume is exploding. The market consequences are stranger than they look.
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·3 min read
AI Won’t Kill SaaS. It Will Charge You Twice.
The old software model charged for employees. The new model charges for employees—and the AI agents doing part of their work.
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·6 min read
The AI Trade Is Not a Bubble. It Is a Game of Chicken.
The question is not whether AI is real. The question is who gets paid — and who is only financing the table.
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