Subject: warren does american deindustrialization?
have long pondered whether widely popularizing 'cap-light' has deprived america of strategic industries. puts a different spin on warren's patriotic cheerleading.
smead put some numbers to this in the AI context.

note : i concede warren takes a hard look at cap-heavy after prior equity holders take huge losses AND ongoing capex is a reasonably small % of cash profits. thus, bnsf, etc...

https://smeadcap.com/missives/...