Is the era of super profitable tech businesses ending?

18 Apr 2026 · 1 min

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A tech analyst argues that AI will crush the massive profit margins that made big tech companies so valuable. Most of the value AI creates will go to users, not corporations, making the stock market less attractive for investors.

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And I believe long-term that all these super profitable businesses are going to be more a thing of the past. I think in general, the whole stock market is going to be a lot less interesting. And I said this in the— I did a meeting this week on AI for the Financial Planners Association of Middle Tennessee. Great meeting, ton of great questions. And really what came out of it was, what's going to happen to the stock market, David, with all this we're talking about? And one of my takeaways is that These businesses that were once super profitable are no longer gonna be that profitable. Most of the value of AI is going to accrue to individuals.