America’s Next Move (Highlights)
America’s Next Move
Your editor today attended Paradigm’s “America's Next Move” conference held at the Four Seasons Hotel in Baltimore on Tuesday.
Despite the gloomy weather, Paradigm luminaries gathered on one stage to tease out the latest trends in technology, biotech, crypto and more.
With around 400 attendees soaking up the insights, the atmosphere buzzed with excitement over topics ranging from AI-driven drug discovery to innovative income strategies.
In case you’re wondering, we've decided against releasing full recordings of the event. The conference's success with our 400 attendees has led us to maintain an air of exclusivity.
But for those who couldn't attend, don't be discouraged. We're exploring the possibility of releasing select talks in bite-sized video segments throughout the remainder of the year.
And we still have numerous highlights from the conference to discuss today…
Paradigm’s iconoclast investor James Altucher kicked off the event with compelling stories from his eight years of professional day trading — as well as his time living in one of the few residential buildings on Wall Street during the 2009 financial crisis.
He described observing the gloomy faces of traders heading into the New York Stock Exchange each morning. In an effort to raise their spirits (heh, and their risk tolerance), he even handed out M&Ms and Hershey’s bars to these weary traders.
Meanwhile, because of his proximity to CNBC’s studio near the NYSE, James was a regular guest. But his brand of optimism eventually made him persona non grata. James’ mother even called to advise him not to smile too much on TV!
Of course, Altucher’s journey from hedge fund manager… to day trader… to crypto evangelist has been anything but conventional. More on that later…
AI's Game-Changing Role
Next up, our chief technology analyst Ray Blanco painted a vivid picture of how AI is revolutionizing drug discovery and development.
Ray highlighted the risky business of getting a new drug to market — costing around $2.3 billion per drug and often taking over a decade. But using AI could help boost success rates while cutting costs by an impressive 90%.
He even joked we might be looking at “Star Trek-level health care” in the near future where advancements in AI, personalized medicine, gene editing and immunotherapy could help extend human life spans to an average 120 years.
With AI's ability to streamline processes and identify promising drug candidates, Ray’s optimism — like Altucher’s — was infectious.
And it’s in this context that Ray mentioned a biotech company that specializes in developing computational software for drug discovery. (Out of respect for attendees who paid for the experience yesterday, we’re withholding most names of stocks.)
After Ray’s turn at the podium…
Paradigm’s retirement-and-income specialist Zach Scheidt took center stage, focusing on income-generating strategies amid changing market conditions.
He pointed out that as interest rates decline, dividend stocks are likely to become more appealing to investors seeking safer havens for their money.
“Expect money to move out of high-yield accounts and into high-quality, dividend-paying stocks,” he advised.
And Zach highlighted two “boring” companies that stand to benefit from growing dividends as well as AI’s demand for electricity and data centers.
Both companies are well-positioned in this evolving landscape, providing essential infrastructure for AI development and data management.
Crypto, AI and Main Street
James Altucher and crypto expert Chris Campbell focused on cryptocurrency and artificial intelligence — particularly in light of the upcoming 2024 election.
James expressed confidence in the long-term prospects of cryptocurrencies, regardless of the election’s outcome, drawing parallels between early skepticism toward the internet and current attitudes about crypto, suggesting that widespread adoption is inevitable.
“In the long run, it doesn’t matter who wins the presidency — crypto will go up,” James says.
The discussion also touched on some practical applications of blockchain technology — for instance, projects like OriginTrail (TRAC) for supply-chain management and AMP for secure payments.
He also discussed the concept of tokenization, explaining how it could revolutionize asset ownership and investment opportunities.
Meanwhile, Chris’ presentation highlighted the intersection of crypto, AI and Main Street.
And leave it to Chris to introduce the word “enantiodromia” which suggests that as the world becomes more global, there's a countertrend toward localization. Chris would argue that both crypto and AI, often seen as global technologies, are fundamentally local in nature.
The presentation further emphasized the value of local public data, which Campbell sees as underutilized.
He underscored opportunities in local contexts such as community-focused news and weather data collection.
Chris also discussed the potential of open-source hardware and AI-driven 3D printing to solve local problems. In the realm of food production, for example, he noted how AI and robotics could significantly increase yield while reducing water usage.
Overall, Chris expressed optimism about the future in light of the potential for local, AI-driven solutions to global problems. And he concluded with a mention of a cryptocurrency that allows users to control their own data.
The Next “Mag 7” Stocks?
A panel discussion had Paradigm experts and a few behind-the-scenes contributors weighing in: predictions for the next wave of dominant technology stocks — akin to today’s “Magnificent 7.”
Picks included…
Again, we’re withholding specific names today, but a colleague tells me this panel discussion might be among the first video segments released. Stay tuned!
That said, the conversation sparked lively debate — and some good-natured ribbing — about which companies truly deserve a spot on this coveted list.
Playing 10-Dimensional Chess
At “America's Next Move,” attendees were treated to a unique chess exhibition featuring James Altucher.
Paradigm event organizers set up 10 chess tables in a line, and James took on all challengers simultaneously.
Courtesy: Rick Barnard-Singer
As James moved from table to table, the room was filled with palpable tension. While there was no play-by-play commentary, a focused silence permeated the air, broken only by the soft sounds of chess pieces being moved.
The matches progressed at varying paces; when a game concluded, it was signaled by a brief round of applause from onlookers.
The entire exhibition lasted just over two hours. And in an impressive display of skill and mental agility, James emerged victorious in nine of the 10 matches.
The tenth game? While not technically a loss, James conceded as he anticipated inevitable defeat.
Each plucky contestant got to keep the chess set. Which James happily signed…
Take care, reader! We’ll be back with another round of 5 Bullets tomorrow.
P.S. The markets today, you ask?
Let’s put it this way: The contrast yesterday was striking — reminiscent of Dave’s reflections at the start of the year about the vibe in 1939-40. War was raging in Europe and the Depression wasn’t over at home. But tens of millions flocked to the New York World’s Fair to see the latest and greatest in technology, eager to explore the possibilities for human progress and betterment.
Yesterday inside a hotel ballroom we had a group of 400 subscribers jazzed about the possibilities in AI, crypto and small companies that could set the world on its ear.
Outside the ballroom, the dockworkers went on strike, an event that threatens to snarl supply chains worse than during the pandemic. And the Middle East conflict escalated to startling new heights that could threaten global oil flows.
The market impact has been palpable — a barrel of West Texas Intermediate crude soaring from under $67 yesterday to over $72 today.
By the same token, the stock market took a hit, the S&P 500 tumbling nearly 1% yesterday and treading water today at 5,712.
Gold is holding the line on $2,650 and silver is back within a dime of $32. Bitcoin is backsliding, under $62,000.
Yes, the world is a rough place right now. But it was a rough place 85 years ago in 1939 — and yet, people oohed and aahed at the first public demo of television. The technology changed the world and minted vast new fortunes.
