{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Avory - Markets and Investing","title":"Is Software Dead? and What Big Tech's Spending Reveals About the Future...","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/bbe2a1a3\"></iframe>","width":"100%","height":180,"duration":1092,"description":"In this episode of Around the Desk, Sean Emory, Founder and Chief Investment Officer at Avory & Co., steps back from the AI noise to focus on what actually matters right now.\nUsing recent earnings from Google, Microsoft, Amazon, and Meta, this conversation breaks down what the massive AI CapEx buildout really signals, how different business models monetize AI very differently, and why many of the fears around software disruption may be overstated.This episode explores AI through a capital allocation lens, separating defensive spending from offensive opportunity, and what Big Tech behavior tells us about the true health of the underlying economy.\nTopics covered include:\n• The scale of Big Tech AI CapEx and why it matters more than feature launches\n • Defensive vs offensive AI spending and how to think about moats\n • Why AI CapEx is also an economic confidence signal\n • Different monetization paths at Amazon, Microsoft, Meta, and Google\n • Why Meta may be the cleanest AI beneficiary\n • The narrative vs data gap around Google Search and AI disruption\n • Why the “AI breaks software” panic may be overdone\n • Enterprise security, governance, and why AI rollout feels fast and slow at the same time\n • Platforms vs single-purpose tools and where risk actually sits\n • What recent software earnings say about demand, renewals, and long-term contracts\n • How AI likely becomes embedded inside platforms rather than replacing them\nThis conversation is for informational purposes only and should not be considered investment advice. Avory & Co. may hold positions in some of the companies discussed. Please do your own research before making any investment decisions.\n_____\nDisclaimer\nAvory is not an investor in either company mentioned. .\nAvory & Co. is a Registered Investment Adviser. This platform is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Avory & Co. and its representatives are properly licensed or exempt from...","thumbnail_url":"https://img.transistorcdn.com/ADRPTmp9Za1lH4Yt9ZONyfvomzdplTO8ScyOf5TslvM/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9kZTBk/NDJhZTkzMjZiZDAw/MWE5ZTc2OWYyNTg3/OTllMC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}