The Working Thesis

The Working Thesis is an audio-first market journal about testing macro investment theses against real-world evidence.

We don’t try to predict markets. Instead, we maintain a set of working macro theses — around AI infrastructure, enterprise software incumbents, sovereign debt and gold, energy constraints, and pragmatic multipolarity — then use daily market data, earnings, policy shifts, capital flows, and AI-assisted research to ask: is the thesis getting stronger, weaker, or unchanged?

This is not investment advice and not a stock-picking show. It is a framework in motion: selective market news, thesis validation, bear cases, and ongoing revisions as reality disagrees.

Built for listeners who prefer signal over headlines.