Had an in-depth talk with @TheBonnieChang during @token2049 on AI, semiconductor value chain, data centers and how I am building the future of Agentic Trading and finance. > I am bullish the long arc of AI development, it’s definitely a singularity in human history; an opportunity that one should not miss > I am sure short term AI valuation correction is due, especially after Anthropic IPO gets under the light - implied margins and the market size domino will reshuffle; repricing is due > I am bullish TMSC as they are the dominant player in the world for semiconductor manufacturing and advanced processes, but remain my view on a 5-10 year move manufacturing back to US headwind that will reshape global semiconductor supply chain dynamics > I believe Agentic trading is shifting from a co-pilot experience to an auto-pilot experience; 6-12 month of time, humans would be comfortable allocating 1-5% of their assets for agents to manage > I believe alpha still comes from humans. Agents help one capture beta, and assists one in getting professional trader skills that are often the boring and time-consuming, e.g., keeping a trading journal and minding exists for proper risk control > I believe the future of trading is a combination of not taking the trill away for trading the 100x, while providing the infra for those that seek 10% with minimal drawdown - either way agents are there to personalize this experience for you