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— January 22, 2026

Our AI Investment Thesis: Why We’re Still Bullish in 2026

Artificial intelligence is, and will be, a tool. Full stop.

Bold claims around Artificial Intelligence are dominating the conversation. A big part of that is hype to drive enthusiasm and excitement for the massive investments required to build the next frontier. However the headlines suggesting a future where work is optional, jobs disappear overnight, and humans are sidelined by machines is frankly unrealistic and too dramatic.

For example Elon Musk recently suggested that work may be optional within 15 to 20 years, a statement that’s equal parts attention grabbing and speculative. It makes for great clips but not exactly how we see things playing out at WSGN.

More interestingly, a recent clip circulating from the Joe Rogan Podcast with Ben Affleck (of all people) offers a surprisingly thoughtful take on AI’s future. Combined with our own research, it felt like the right time to update our thesis on what AI is, what it isn’t, and how it actually reshapes economies.

At the core of most AI anxiety is the belief that work is fixed and that outputs can’t expand or evolve.

The Fixed-Work Fallacy

People fear AI because they assume productivity gains reduce the need for labor. But history consistently shows the opposite. Work doesn’t disappear, it evolves and expands.

Consider a simple example. Imagine you’re a roofer who can hammer in 100 shingles per day. Now introduce a nail gun. Overnight, your productivity doubles to 200 shingles per day. Does your employer let you stop at 100 and leave early with full pay? Of course not. The expectation shifts. Output expands. Demand adjusts.

The tool doesn’t eliminate the job. It redefines what “a full day’s work” means.

This same pattern applies across nearly every major technological leap.

Why the Future of Work Is Hard to See

Tech executive Mike Fisher captured this dynamic perfectly in a recent Substack essay titled “More Efficency, More Demand“:

“People fear that AI will take away the work they know. They rarely see the work that will emerge because the shape of future demand is invisible to them until efficiency makes it viable.”

He continues: “But once the frontier expands, the opportunities reveal themselves.”

That invisibility is key. New demand doesn’t announce itself in advance. It only becomes obvious to most after productivity unlocks it. If you’re willing to imagine beyond current constraints you can start to see the opportunities ahead of time (a must-have skill for any successful investor) and it looks pretty cool!

This is why each major technological shift initially feels destabilizing. Electricity eliminated entire industries while creating countless others. The internet automated tasks while spawning digital economies that barely existed a generation ago. In each case, quality of life improved, productivity surged, and new forms of work emerged.

AI fits squarely into this lineage.

Yes, There Will Be Disruption

None of this is to say AI will be painless. Some roles will be fully replaced. Certain skills will lose relevance. There will be a “survival of the fittest” element as workers and companies adapt.

But technological progress does not pause for discomfort. Societies that resist adaptation fall behind. Those that embrace new tools tend to grow faster, live better, and ultimately create more opportunity.

AI will amplify output, reduce costs, and unlock work that simply wasn’t viable before. Over time, that leads to new industries, new roles, and a reshaped, not diminished, labor market.

Why This Matters for Investors

This grounded, probabilistic view of AI is what underpins our bullish stance on the space. Not because AI replaces humans, but because it enhances them. Productivity shocks drive economic growth. Growth drives earnings. Earnings drive markets.

The real opportunity isn’t betting on AI as a replacement for people, it’s understanding where AI expands capacity, lowers friction, and creates new demand across the economy.

Final Thought

AI isn’t the end of work. It’s the next chapter in how work evolves.

We’d love to hear your thoughts: How do you see AI playing out in your life, the job market, and the stock market?

Be good.