Random market thought after earnings: Meta and Tesla both sold off hard despite very strong revenue growth. Tesla revenue rose 26% YoY while robotaxi deployment slowed down and Meta's revenue rose 28% but free cash flow collapsed as AI infrastructure spending rose. The common theme seems to be discomfort with enormous AI spending when the payoff still looks uncertain or distant.

What makes me more bullish is my own experience with the technology.

On coding, I still see a surprising amount of skepticism, including from professional programmers who seem to think AI is mostly glorified autocomplete. My experience has been completely different. I went from writing everything manually, to autocomplete, to having AI write functions and classes, to whole features that I reviewed. Now I routinely give coding agents substantial engineering work and often barely look at the implementation. In my experience, they can comfortably do the technical implementation work companies pay a $350k/year senior developer to do. What’s remarkable is how quickly that progression happened.