video1.0<iframe src="https://www.loom.com/embed/93274ea013904c24b68ed3c53c79709d" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/93274ea013904c24b68ed3c53c79709d-a951b99c4b013661.gif2172.284I am very bearish on U.S. equities, and I say the software index derated because vibe coding and AI models effectively attack customer IP and business logic. I argued a year ago that Anthropic and OpenAI did not explicitly protect chain of thought, and I point to real world cases like Anthropic blowing up IBM and Cloudflare stock when it announced automation and security services. I also claim Anthropic trained Mythos on chain of thought data, and that liquidity and passive flows will get sucked into jacked valuations and future AI IPOs. I did not request any action from viewers.