Ed Elson

After it dropped, the Dow fell as much as 2% and software stocks fell 5%.

We've seen markets react to AI commentary before, but this time there was a twist.

This piece wasn't really an analysis.

This piece was actually fiction.

titled The 2028 Global Intelligence Crisis.

The blog imagines a scenario where AI drives unemployment to 10%, where consumer spending collapses, where markets plunge, and the entire economy is fundamentally reshaped.

So Scott, we discussed this a little bit with Josh Brown during the week last week.

He had some interesting thoughts.

We also got a lot of feedback from our audience.

A lot of people are very shaken by this article.

Again, it doesn't really tell us anything we didn't already know, but it does imagine a potential scenario where AI is so powerful, it's so productive, that actually it just completely rewrites the script of our economy and actually puts the S&P, puts all markets into the red.

and takes the consumer economy down with it.

So let's just start with your initial reaction to the Citrini Research article, the blog post, and also how the markets reacted.

All those companies you mentioned, they got really hit hard after this article came out.

Some other names that have gotten really hit hard, again, because of this AI narrative, Visa, MasterCard, American Express,

DoorDash, a lot of the big software names.

And you ask yourself, like, okay, what do all of these companies, what do all of these stocks have in common?

If you look at their fundamental businesses, they do not have a lot in common.

They're very different businesses pursuing very, very different objectives.

The thing that all of those companies have in common is they were all mentioned by name in the blog post.