Clock is Ticking on AI ROI....

In Episode 68 of ‪@Benny_Squirrel‬ tonight we cover a broad menu that moves from Japan and bond markets to semiconductors, energy, emerging markets, and the economics of AI. Never miss a Sunday Show! Get the full show notes at www.blindsquirrelmacro.com and www.capitalmisallocation.com The discussion opens with Japan, where we unpack the market reaction to comments around GPIF allocations, what the move in JGB yields may be signaling, and why Japan’s enormous savings base still matters for the yen and global capital flows. We then turn to the SK Hynix ADR debut and use it as a springboard to explore ADR premium dynamics more broadly, including comparisons with TSMC and the role of foreign ownership frictions, narrative-driven demand, and bubble risk in AI-linked chip names. From there, the conversation shifts to energy and the “China collar” thesis in crude, arguing that China’s import behavior may now be capping both downside and upside tail risks in oil, with important implications for energy equities, midstream names, and capital spending. The final and longest segment dives into AI ROI, hidden costs, hallucination risk, enterprise governance, model competition, and why hyperscaler capex only makes sense if real economic value can be captured.