What matters more; a new smart-phone or food security? Spending billions developing AI to make life more confusing, or improving the environment and social cohesion? Science and Technology can address humanity’s biggest problems – but how do we ensure they are focused on the right ones?
September's ARM IPO could be a “CFP” for markets if it breaks the current everything AI consensus (aka “bubble”). There are many reasons to think it could, because it’s basically Masayoshi Son rolling it with big aplomb in the Tech Casino.
Nvidia and Telsa trade on hopes and expectations, FOMO and huge PE multiples. They are very different investment propositions but reflect the bubble market. Maybe it’s time to revert to dull, boring, predictable returns in fixed income secured by real assets?