Ep.337: (02.25.26) Winners & Warnings - AI: First-Order Fears, Second-Order Opportunities

In this episode, we explore artificial intelligence through a capital allocation lens. While much of the public debate centers on automation and labor displacement, history suggests the more durable wealth creation occurs in the second phase of technological change — when companies reorganize their systems around a newly relaxed constraint. Drawing parallels to railroads, electrification, and the internet, we examine how first-order infrastructure investment differs from second-order innovation — and what capital allocation signals may define the next era of market leadership.

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Ep.337: (02.25.26) Winners & Warnings - AI: First-Order Fears, Second-Order Opportunities is an episode from Vaughan Nelson Investment Management by Vaughan Nelson Investment Management.

This episode is 00:18:20 long.

This episode was published on Feb 25, 2026.

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