Just dropped AGENDA 2026: SIX BIG THEMES THAT’LL DRIVE 2026.

#3: HYPE & INCEST: THE AI BUBBLE POPS

As Grace Blakeley described, the AI ecosystem has become a “Circular Economy.”

The Closed Loop diagram below illustrates just how badly AI is round-tripping: trillions of dollars moving from one ledger to another - a web of Special Purpose Vehicles and digital loan-sharking, run by the richest men on earth, entirely fueled by burning billions in cash every day of every week for years.

Problem is if the AI Bubble does burst, given the scale of those involved, it’ll drown our economy with it.

Dig into deeper and get all SIX THEMES on the 2026 AGENDA at my ‘stack.

PS. Substack is the new Podcast is in agenda item #6!