What's Still Valuable When Intelligence Is Free

Cliff Sosin joins Patrick to explore why even superintelligent AI may have fundamental limits, and what happens when intelligence becomes cheap and ubiquitous. They discuss why the biggest winners of the AI revolution may not be the companies building the models, but businesses with durable advantages in data, attention, and physical infrastructure. Cliff shares his perspective on the AI infrastructure boom, the risk of overinvestment, what makes companies like Meta and Carvana compelling, and how AI agents could reshape competition, investing, and the future of work. Timestamps 0:00 Intro 10:41 The Limits of Intelligence 18:03 Investing Beyond Cheap Intelligence 24:03 Will AI Become Commoditized? 35:10 Who Profits From AI? 43:00 AI Agents Reshape Competition 52:06 America's Capital Markets 58:04 Transforming Companies With AI 68:19 AI and Portfolio Concentration 73:16 Education in the AI Era #InvestLikeTheBest #CliffSosin #ArtificialIntelligence #Investing #AI Presented by Ramp: https://ramp.com/invest Sponsored by Vanta, WorkOS, Rogo, and Ridgeline: https://www.vanta.com/invest https://workos.com/ https://rogo.ai/invest https://www.ridgelineapps.com/ ****** Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc