we like to be last
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The dirty secret is that most companies are seeing lost productivity from workers using AI extensively.
They are laying off many workers, anticipating huge transformation, and the workers which remain are so far only seeing a lot of errors in the work product produced by AI. Where the workers were actually needed in the first place, some companies have already started rehiring.
AI is the future but any company which rushes this will face potentially catastrophic results. AI has known limitations and it is not yet clear that those will ever be overcome. Think of it as the new Microsoft Office.
There is a huge rush to scale the capability, at the same time that companies are adopting, yet starting to already see issues and reasons to slow the ramp.
Someone is gonna get stuck with a few hundred billion in datacenters that are out of date before any demand shows up. The mega tech companies see that most of their existing products are going to be deprecated by AI tools, and so are scrambling to transition, but other companies are already pulling back on rapid adoption.
This is Dot-Com 2.0, just in time for Spring 2026. Not a good time to be in a passive index fund (or any fund which includes the Mag7), imo.
We ate our own dogfood wrt AI