DO NOT DEAL WITH GO-DADDY.

Sports Investment has become one of the hottest arenas in Alternative Asset markets. However, there are more opportunities than simply buying teams, leagues or stadiums – the value of content is critical, creating a whole new Asset Class: Digital Wealth - the value of Creator IP. How to monetise it?

When a firm losing $5 bln per annum is valued at $160 bln, what won’t it do to post a profit? OpenAI’s new investors expect much of Sam Altman. But what does the insane and widening income inequality at the core of the repeating US Tech booms say about Peak Free Markets?

Nvidia is a proxy for the global economy – said an idiot analyst. AI is terribly important because C-Suites think it is. The reality is AI will be messy, expensive and costly to implement. We’ll quickly discover it overpromised and underdelivers. Back to fundamentals.

This is not just about recession or tech stock valuations – it’s a wider everything, including the kitchen-sink, confidence slough of market instability and uncertainty that’l hurt. Next few days might get interesting… Move along now… nothing to see here…

There was a Judder Moment in AI last night. Microsoft’s numbers confirm the hype is played out - the reality is the AI everything rally is bleeding revenues and momentum. AI could see a cascading failure event bringing down startups, and triggering a reassessment of AI linked firms. Tesla – as the most hollow set of undelivered promises - is set to feel most pain.

Every corporate has its own distinct life-cycle. The Concept and Foundation are stage one. Firms evolve. Bad Management lies at the core of bad companies. Some firms become defined by it. Some firms survive and thrive. Many don’t. Few get second chances.

Discuss in terms of Tesla and Boeing.

So much to write about this morning…. Just some of the questions are:

How might Kamala Harris and a closer US election change the economic and market calculus? What does the Crowdstrike omnishambles on Friday tell us about the uncertain foundations of global tech and its’ resilience to instabilities? What did we learn about the UK’s economic prospects from Chancellor Rachel Reeves on Sunday Morning’s BBC interview?

The investment options are changing – is it time to “rotate” into a broad-based economic recovery around underpriced small stocks by selling over-priced Tech? Or is something more fundamental at play in Big Tech?

There is nothing so dispiriting as dealing with a bank online. The experience will leave you frustrated and furious. Yet we all expect the AI revolution is going to absolutely change tech for the better. Wake up. Smell the Coffee. Prepare to be disappointed.