David Uberti

If there is this huge productivity boom, if people can use AI to do menial tasks that free us up for more creativity, this is obviously the optimists talking.

What do we do with all that extra time?

What do we do with all that extra productivity?

What other opportunities does that create?

And that's not really a possibility that this post brought up.

Understanding is maybe not the word I would use.

Or lack thereof, I guess.

Right, right, right.

So, I mean, a price is a powerful piece of information, right?

The price of AI is something that nobody really understands quite yet.

But the even harder thing is pricing the disruption of AI.

And that's kind of what we're seeing with each of these really shoot first, ask questions later market moves in recent months.

We talk to people on Wall Street all the time about this.

A lot of them are passive investors.

follow the trend that makes up a huge portion of the market as we talk about it, right?

A lot of them will give you a lot of cliches about productivity gains and sort of the opportunity with AI, but the real honest ones that we talk to say they have no idea.

And I think that uncertainty between fear and greed, which are two of the most powerful forces in markets, that's kind of what you're seeing at this moment.

such as this week.

And it's particularly pronounced right now because the market's so highly valued.

People have bet so much on this theme that any particular move, any retreat or retrenchment in the expectations around it could have a really big impact.