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Feb 15
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$86.24
$85.69
-0.6%
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LONG
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David Autor
Professor of Economics, MIT
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"If that supporting work is automated by AI... you're happy... It makes your expertise more valuable, allows you to specialize." Autor specifically cites lawyers: "Those that are left get paid more because the high expertise part of what they do is even more valuable." The "surviving" high-end professionals will rely heavily on proprietary data and AI tools to eliminate grunt work (drafting contracts). Companies that control the legal data moats and the AI tools to process them (Thomson Reuters, RELX) become essential infrastructure for the high-margin professional services industry. Long the "arms dealers" of professional expertise who sell the tools that allow lawyers/accountants to charge more for strategy while doing less drafting. Open-source models (LLMs) becoming good enough to bypass specialized proprietary databases. |
Bloomberg Markets
Who will survive and thrive in the new AI era...
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Feb 14
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$86.24
$85.69
-0.6%
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LONG
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Finnhub News
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The headline indicates Thomson Reuters is a promising investment, citing its high dividend yield and strong underlying financial health. |
Finnhub - TRI
THOMSON REUTERS CORP (NASDAQ:TRI) Emerges as ...
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Feb 07
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$87.41
$85.69
-2.0%
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AVOID
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Brad Gerstner
Altimeter Capital / CEO
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Gerstner notes Salesforce (CRM) has compressed from 30x to 15x Free Cash Flow despite hitting revenue numbers. Sacks argues AI agents (like Claude Co-work) will work across applications, turning current SaaS tools into a commoditized "legacy infrastructure" layer. The market is discounting the terminal value of these companies. If AI agents can execute tasks across databases without a human needing a UI "seat," the per-seat pricing model collapses. The profit pool moves from the application layer to the agentic layer. Avoid or Short. The multiple compression is not a temporary dip but a structural repricing of future cash flow durability. These incumbents successfully pivot to become the "agentic workspace" themselves (e.g., Salesforce successfully monopolizing the agent layer). |
All-In Podcast
Epstein Files, Is SaaS Dead?, Moltbook Panic,...
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