FSD: Are Semis Back?

Podcast: Lumida Wealth : Non-Consensus Invest Beyond the Ordinary · Ram Ahluwalia

Opublikowano: 2026-09-07

In this FSD episode, titled AI Would Have Rejected Elon's Business Plan, Ram makes the case that AI is structurally incapable of giving you an edge. Multiply enough matrices and the output lands in the center of the distribution, which means AI returns the consensus view by construction. The best opportunities are non-consensus. Elon Musk is the proof: reusable rockets, driverless cars, brutal capital intensity, competing with the government. No model would have approved that plan. The positioning is constructive into September as midterm risk gets priced in. Semiconductors have had a clean positioning reset, and he...