Part 11/20:

Vissa believes AI will cause growth stocks, especially the tech giants and "Mag 7" companies, to underperform relative to Bitcoin in the long run. Despite the recent bullish performance of AI stocks, five out of the seven major tech firms have underperformed the S&P 500 this year. This signals a potential revenue stagnation for these hyperscalers due to escalating costs (massive spending on AI infrastructure and compute) and increasing competition.

He notes:

"They're competing with each other and spending vast sums of money on AI, but there's no guarantee of sustained revenue growth."