"The massive capital expenditure required for the AI buildout threatens to turn high-margin, asset-light tech giants into low-return, capital-intensive industrials."

"The long-term underperformance of AT&T and Verizon was attributed to intense price competition from T-Mobile rather than government regulation."

"The guest presented a historical framework showing that the dominant companies in the S&P 500 completely rotate every decade, necessitating exposure to innovation."