Own scarcity over abundance in AI era
The guest argued that investors should avoid assets disrupted by AI-driven abundance—such as software and code—and instead focus on scarce physical infrastructure, hardware, and power assets.
The argument
With AI commoditizing code and ideas, corporate moats in software are shrinking rapidly. The guest advocates owning physical bottlenecks like DRAM, power infrastructure, and specialized design software that support the AI buildout.
The thesis, stress-tested
✓ What validates it
- ✓Sustained capital expenditure growth from major hyperscalers on physical infrastructure
- ✓Rising average selling prices for DRAM and specialized AI design software
▸ Risks discussed
- ▸Rapid technological shifts could alter which hardware components are deemed scarce
- ▸High capital expenditure requirements for infrastructure companies
Hear it yourself
"And that's why I say this is not a forecast. This is an inevitability. It was only a question whether Bitcoin would be the end result, but it has been chosen by people. And I always like to say there are three motes in the world that have been decided by people that have not gone and they've survived the test of time: gold, religion, and now Bitcoin. Maybe there'll be something else that people say this is not the chosen store of value in the digital economy, but as of now between the users and it being the only one that is accepted as far as I can tell, I'll take Bitcoin as the inevitability."
08:15
AFFILIATE LINK · ZORTIX MAY EARN A COMMISSION · NEVER A RECOMMENDATION TO TRADE