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Recently, some voices claim the “AI bubble is bursting.”But historically, every major technological revolution has gone through a disillusionment phase—this is nothing new. Learning from history is important. Still, we must leave room for a different possibility:this cycle may not follow the traditional script.Today, real-world AI adoption and market expectations are racing each other. When the gap between the two becomes unmanageable, the disillusionment phase will arrive. B

The rapid growth of U.S. tech companies is often attributed to innovation, scale, and capital. Yet one of their most underappreciated advantages lies in how employment structures align perfectly with corporate strategy. In the tech sector, “lock-in” is a familiar concept—typically referring to ecosystem stickiness.But in the United States, labor mobility itself becomes a strategic weapon.  Companies can downsize quickly, reallocate talent where it’s most needed, and hire acro

When investors make money in equities, they often credit their success to sharp insights — a low P/E ratio, strong balance sheet metrics, attractive margins, and so on. But in many cases, especially during a sustained bull market, this is an illusion. To be blunt: the majority of your gains likely came from monetary easing, not from superior stock-picking. Markets already know what you think you “discovered.”Whether a stock is cheap or expensive on a P/E basis is trivial info