Author: Henry Kanapi

ARK Invest is pushing back against a viral research note that warned AI could trigger a 10.2% unemployment rate and economic depression. In a response to Citrini Research’s 2028 scenario, ARK says the “Ghost GDP” thesis misunderstands how capital flows through the economy. The Citrini report suggested that AI-driven layoffs would spark a downward spiral, as companies cut workers, reinvest in automation, and erode consumer spending power. ARK Invest notes that while the scenario echoes the concerns of millions of Americans, it falls flat when seen through the lens of the real economy. “The scenario is vivid, superficially consistent, but…

Elon Musk says China’s domestic chip industry may close the raw compute gap with Taiwan within a few years. In a new post on X, the Tesla and xAI CEO says that while China may lag on efficiency, its output could become competitive sooner than many expect. “Yeah, I will be surprised if domestic chip production in China is not competitive with Taiwan in raw compute, albeit less power efficient, within three to five years.” Musk adds that physics itself is beginning to slow the pace of chip miniaturization. “There are also significant diminishing returns to reducing element size on…

Billionaire Jeffrey Gundlach says the United States is approaching a historical trigger point that has marked the decline of past empires. In a new DoubleLine Capital video update, the billionaire investor points to what is known as “Ferguson’s law,” a principle dating back to the 18th century. “And he came up with the idea that any great power that spends more on debt service than on defense risks ceasing to be a great power. So there’s this trigger point when you’re spending more on interest expense than you are on defense.” He cites the Spanish Empire as an example of…

JPMorgan chief executive Jamie Dimon warns that the US is inching closer toward the next credit downturn, and the fallout may catch investors off guard. In a new Bloomberg interview, the JPMorgan CEO says credit cycles are inevitable and tend to follow economic slowdowns, while noting that every cycle hits different industries hardest. “So some things rhyme, and some things never change. OK. There will be a credit cycle. It’s usually caused by a recession. The type of recession determines the nature of it. So stagflation is very different than just a recession. One of the things that’s always different…

Satya Nadella says fears of mass AI-driven unemployment underestimate society’s ability to respond. In an interview on the OMR Podcast, the Microsoft chief executive pushes back on the idea that AI alone will dictate economic outcomes. According to Nadella, people, societies and governments have a big say about AI diffusion and its potential for labor market disruption. “I’m not being Pollyannic about this, but I’m saying let’s at least have a bit of optimism in our ability as humans and human societies and as political economies, right? One thing that is discounted is that we have control. It’s called political…

Cathie Wood says ARK Invest’s long-term outlook for Tesla does not yet include what she sees as one of its biggest potential opportunities in AI. In a Morningstar interview, the ARK founder unveils a long-term price forecast for the electric vehicle maker and says even the big projection excludes upside from humanoid robots. “Our 2029 forecast is $2,600. That forecast has nothing for Optimus, so humanoid robots. And we’re beginning to understand that while we were too aggressive on autonomous mobility, so robotaxis, we may be too conservative on the humanoid robot opportunity. So stay tuned for that update.” Wood…

Brad Gerstner says Altimeter’s strategy over the past two years has centered on one core idea. In a new Fox Business interview, the Altimeter founder says the firm’s positioning is directly tied to advances in machine intelligence. “The overarching theme now for two years at Altimeter is we want to be positively correlated to improvements in intelligence. We think there’s no turning back from artificial intelligence.” Gerstner says that philosophy has translated into heavy exposure to the infrastructure that powers AI systems. “And so that means the biggest things that we own are things that are in the production of…

Elon Musk says the AI community is underestimating how much more powerful AI systems can become. In a recent interview with Peter Diamandis, the Tesla and xAI founder says current models represent only a fraction of what is technically achievable. “Most people in the AI community don’t yet understand, which is almost no one understands, that the intelligence density potential is vastly greater than what we’re currently experiencing. So I think we’re off by two orders of magnitude in terms of the intelligence density per gigabyte [of what’s achievable], yes.” To provide a better picture of his claim, Musk points…

The former Goldman Sachs chief executive says investors should be paying close attention to opaque and illiquid corners of the market. In a new Bloomberg interview, Lloyd Blankfein says his concern centers on the private credit market, where assets are difficult to price and even harder to test in real time. “I’m worried. Look, one has to worry about opaque assets where there’s illiquidity. So it’s very hard to mark to market, and you’re marking it by analogy to other companies. So there’s no precision there. Very hard to test in the market whether your marks are correct because the…

David Sacks says the real-world rollout of AI will be shaped less by ideology and more by friction. In a new episode of the All-In Podcast, the White House AI and Crypto Czar says enterprise inertia and infrastructure limits will slow the pace of change. “With any new technology, there’s always a huge change management aspect with enterprises, because it’s hard for them to adapt and change. And the people in the organization who can lead that change management are the ones who are going to create an amazing career opportunity for themselves. But it’s hard to do. And that’s…