Duly Noted

It encapsulates the exact shift I have made in my portfolio, slowly but surely, over the past 12 to 18 months. With the buildout currently underway, bottlenecks have turned physical, impacting everything from the power grid and data centers to critical metals and resources.

Macro assessment of hardware providers (flying high) vs SaaS (taking a beating)

_{Quote Citation: @AndreasSteno, “Andreas Steno Larsen on X: “The death of the (software) services economy” / X”, 2026-02-03, https://x.com/AndreasSteno/status/2018775502639796313}