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China's stock market is on a tear with the CSI 300 up 21% this year, driven by excitement over AI and tech stocks reaching highs not seen since 2015.

The entrepreneurial ecosystem was flattened by 2003-2004, making the idea of starting a company seem ludicrous.

Tesla's market share in the U.S. dropped to its lowest level since 2017. Tesla sales were down 43% year over year in the EU, and they're down 6.3% year to date in China.

The reduction in loan growth to industrial companies in China, from 40% to 8% annually, signals a pullback in unsustainable lending practices.

95% of companies aren't seeing the ROI from their AI investments. If they start scaling back, it could trigger a massive downturn.

The transaction costs inside a big company are way higher than doing it on the outside. Therefore, the big companies as a category will start to decline very rapidly.

The entrepreneurial ecosystem was flattened by 2003-2004, making the idea of starting a company seem ludicrous at the time.

The entrepreneurial ecosystem was flattened by 2003, making the idea of starting a company seem ludicrous.

The entrepreneurial ecosystem was flattened by 2003-2004, making the idea of starting a company seem ludicrous, which created fear among potential entrepreneurs.

The transaction costs inside a big company are way higher than doing it on the outside. Therefore, the big companies as a category will start to decline very rapidly.