Investment Strategy
Unlocking Value in Complex and Dislocated Markets
America needs strong, prosperous allies to maintain markets for our technological leadership in AI development and deployment. But right now, our allies (especially in Europe) are struggling industrially and our traditional response is inadequate.
Washington’s current toolkit for maintaining alliances and influence comes in the form of military bases and financial aid, but neither makes factories more productive and aid money doesn’t build lasting capability.
I have written before about the risk of becoming a stagnant economy if we don’t compete effectively. Of course, we cannot out-populate China and India, so we need to create “AI headquarters” as permanent centers globally that help allies modernize their struggling industries using American AI/automation expertise
For all the billions poured into AI deployments, the project attrition rate has been extraordinary. MIT research showed that 95% of GenAI pilots failed to achieve rapid revenue acceleration, while S&P Global found that 42% of companies abandoned most AI initiatives in 2025, up from 17% in 2024.
When Nvidia convinced the White House to sell downgraded chips to China, critics warned it would undermine U.S. security and erode our AI advantage. In reality, it was a win-win, driving growth in both countries while protecting America’s technological lead.
In the debate about the impact of automation and agentic AI on the American workforce, there are two camps: those sounding the alarm on massive job displacement and those who want to know which specific roles will be eliminated. The difference is stark. Vague warnings will likely only lead to panic and bad policy responses. But, as a country, if we know which jobs are at risk, we can prepare, retrain, and adapt.
