Milk Road Macro

chevron_right

AI Juggernaut: The Biggest Bull Run Ever w/ Jordi Visser

whatshot 11 snips

Sep 30, 2025

Guest

Jordi Visser

Jordi Visser, a seasoned investor and macro analyst with over 30 years on Wall Street, discusses AI's profound economic impact. He explains why AI isn't a bubble but a wave of innovation akin to the internet, emphasizing the rush toward compute and data centers. Jobs and work hours will transform, possibly shortening workweeks amidst job shifts. Visser argues Bitcoin could be the purest play on AI, linking it to fiat fragility, while also advising on investments in semiconductors and the evolving landscape of tech.

59:22

forum

Ask episode

web_stories

AI Snips

view_agenda

Chapters

menu_book

Books

auto_awesome

Transcript

info_circle

Episode notes

insights

INSIGHT

AI As The Next Major Innovation Wave

AI is fundamentally transforming all businesses and will be the defining innovation wave of this era.
Jordi Visser argues AI is "eating the world" and is comparable to PCs, internet and mobile revolutions.

insights

INSIGHT

Compute And Power Drive AI Capex

AI capex is concentrated in compute and power, not just buildings labeled 'data centers'.
Visser highlights bottlenecks across semiconductors, cooling, transformers and gas turbines that will constrain growth.

insights

INSIGHT

Concentration Explains 'Bubble' Claims

The current market looks concentrated, so calling it a broad bubble is misleading.
Visser says participation is limited, so high asset prices coexist with weak consumer confidence.

Get the Snipd Podcast app to discover more snips from this episode

Why AI Matters for the Economy

02:04 • 2min

chevron_right

Where AI Capital Expenditure Is Going

04:15 • 2min

chevron_right

When Will AI Revenues Materialize?

06:24 • 2min

chevron_right

Is This an AI Bubble or Concentration Effect?

08:41 • 4min

chevron_right

Will AI Be Winner-Take-All?

12:14 • 3min

chevron_right

Creative Destruction and the Future of Capitalism

15:42 • 3min

chevron_right

How AI Will Impact Jobs and Work Hours

18:21 • 5min

chevron_right

Policy Responses: UBI, Shorter Work Week, and Transition Tools

23:02 • 5min

chevron_right

US–China Competition: Who's Ahead in AI?

28:30 • 5min

chevron_right

Why the Trump–Xi APEC Meeting Matters

33:07 • 4min

chevron_right

Energy Constraints and AI's Power Needs

37:28 • 5min

chevron_right

Could AI Compete with Household Energy Needs?

42:05 • 4min

chevron_right

Why Bitcoin Is the Purest AI Play

45:59 • 4min

chevron_right

Where to Invest: Compute, Semiconductors, and Bitcoin

50:21 • 3min

chevron_right

Using AI to Research Investments

• Mentioned in 15 episodes

When Genius Failed

Roger Lowenstein

When Genius Failed is a detailed account of the spectacular collapse of Long-Term Capital Management (LTCM), a hedge fund that was founded by Nobel Prize-winning economists and managed by some of the most brilliant minds in finance. The book explores the fund's rapid ascent, its complex trading strategies, and the catastrophic events that led to its downfall. Lowenstein provides a gripping narrative that delves into the psychological and financial factors that contributed to LTCM's failure, offering insights into the risks and consequences of high-stakes financial speculation.

#121

• Mentioned in 114 episodes

Thinking in bets

Making Smarter Decisions When You Don't Have All the Facts

Annie Duke

In this book, Annie Duke teaches readers how to make better decisions by treating them as 'bets' on uncertain outcomes. She emphasizes the importance of distinguishing between the quality of a decision and its outcome, acknowledging the role of luck, and avoiding biases such as 'resulting' and hindsight bias. Duke draws on her experiences as a professional poker player and combines these with insights from cognitive psychology and other fields to provide tools for making more objective and thoughtful decisions. The book encourages readers to get comfortable with uncertainty, seek truth through diverse opinions, and learn from outcomes to improve future decision-making.

AI isn’t just changing the world; it’s rewriting the rules of the global economy. In this episode of Milk Road Macro, we sit down with legendary investor and macro thinker Jordi Visser to unpack how artificial intelligence is transforming jobs, capital markets, and even crypto itself. Everyone’s talking about “AI bubbles” and “AI hype,” but what’s really happening under the surface? Why are data centers and semiconductors suddenly the hottest macro trade? And why does Visser call Bitcoin the purest AI play on the market?

~~~~~

📚 Helpful Resources 📚

🥛 Why AI is key for the US economy 🤖

https://milkroad.com/macro/why-ai-is-key-for-the-us-economy/

~~~~~

⁠⁠⁠

🌍 Macro moves markets, get ahead of the game with Milk Road Macro Newsletter:

https://link.milkroad.com/pod-free-signup

💰 Go PRO and become a better investor with the #1 crypto research and analysis:

https://link.milkroad.com/pod-macro-pro-signup

💸 Get your pain-free crypto portfolio GUIDE for 2025:

~~~~~

✊ Follow Milk Road Macro on Social Media:

👉 Milk Road Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/MilkRoadMacro⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

👉 YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@MilkRoadMacro⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

👉 Spotify: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://open.spotify.com/show/0QRuoqgBXmSqtjtY0WDVrE⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

👉 Apple Podcast: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.apple.com/us/podcast/milk-road-macro/id1828927405⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

~~~~~

🎙 GUEST INFO 🎙

Jordi Visser

X: https://x.com/jvisserlabs

Substack: https://substack.com/@visserlabs

YouTube: https://www.youtube.com/@JordiVisserlabs

📃 Disclaimer 📃

The information presented in this video is for educational and informational purposes only. It should not be considered as financial, legal. The views and opinions expressed by the speakers, are their own and do not constitute professional advice. Investing in cryptocurrencies carries significant risks, including the potential for substantial losses.

Home Top podcasts Popular guests Top books