High fashion is not exactly my usual territory but look at this... Prada’s entire holiday campaign was drawn by hand. Probably the biggest thing they put out all year and the whole point of it is that people spent bloody ages making it. This is what all the doomers are missing about AI. Once a machine can make the image for free, the thing that sets you apart is that a human did it. Human craft becomes the luxury good. Prada have worked it out before most economists have. Funnily enough I wrote about exactly this today... what stays scarce when intelligence is free. I'll link the full piece below for anyone interested

Week 1 of the Real Vision Trading League is done 🏆 Congrats to Andy B, who wins $5,000 for the top idea of the week. You can see the full trade and his reasoning inside the platform. Tune in here at 4:30pm ET, when the team breaks down their favourite trade ideas from week 1. There's still everything to play for...

Every market in history had the same ceiling: 8.5 billion people. @RaoulGMI's argument at TOKEN2049 Singapore: AI agents just removed it. “The TAM has gone to infinity.” Watch the full keynote:

Almost everything I've written in twenty one years of GMI traces back to two things... debt and demographics. An ageing population means slower growth, and slower growth means more debt to paper over the gap. Thats The Everything Code. But something else is now sitting on top of it. AI, robotics, energy and crypto are all hitting their exponential curves at the same time. The Exponential Age is where the debt problem and the technology collide, and what comes out the other side is a very different world. This is seven minutes on how it all fits together. The long version is in my book, out 3rd November. And until tonight, when you preorder The Everything Code I’ll send you the September GMI report free. The issue is called The New Macro, and its about what that collision looks like right now. It looks at which risks the bears are pricing wrongly, which ones could actually derail it, and the five numbers that would tell me I'm wrong. GMI is normally members only, so this is the only way most people will ever read one. How to claim it below.

Everyone has a great trade in hindsight. The interesting part of the @RealVision Trading League is seeing the ideas before we know how they turn out. What’s the thesis? What’s the catalyst? What would invalidate it? That’s the discussion I want to see.