AI is starting to finance itself like a macro theme: through IG debt.

If the AI ROI/CAPEX math disappoints, this stops being a stock story and becomes a systemic credit story - and then the “ripple effect” is everywhere.

So I’m hunting for true asymmetry outside AI:

• Spanish glassmaker + falling gas prices: defytheodds88.substack.…

• Ukraine peace deal playbook: defytheodds88.substack.…

• Dollar debasement: defytheodds88.substack.…

Uncorrelated theses. Clean return profiles.

How many bets do you have that perform even if the AI-story falters?