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This publication focuses on how artificial intelligence is changing the economics of real businesses and industries.

Most commentary about AI focuses on hype and speculation about the distant future. My goal is different. I analyze how AI is affecting publicly traded companies today — how it changes customer acquisition, cost structures, competitive dynamics, and long-term profitability.

Each post applies a traditional investor framework: reading filings, evaluating management commentary, examining industry structure, and thinking about valuation.

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