The Real Eisman Playbook/
AI’s Achilles’ Heel: Why Everything Hinges on Anthropic & OpenAI | The Weekly Wrap
Steve Eisman argues the AI boom’s biggest fragility is the market’s dependence on OpenAI and Anthropic, which he says have little moat and could pressure hyperscaler margins if pricing turns or growth slows. He also contrasts AI with past crises by saying there is still no hard demand data, then applies his upstart-vs-incumbent framework to Netflix, Circle, Bitcoin, and software beneficiaries like CoreWeave, Supermicro, and Cisco.
