I’ve been thinking about this a lot: maybe the most bullish AI outcome for investors is not actually “AGI arrives and changes everything overnight.” Maybe the best outcome is something more boring but more investable: AI becomes extremely useful, roughly as smart as the smartest humans in many domains, but it does not become runaway AGI or break society. That sounds less exciting, but honestly it might be the sweet spot. If AI becomes full AGI, the upside might be enormous, but markets a...