Mazen El-Masri
2026/09/225 min read
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The AI Bubble Part II: Regulatory Charades, Cloud Rents, and the Missing ROI

In a post I published last year (here), I argued that the staggering capital deployment into artificial intelligence was economically unjustifiable. Years later, the ROI remains nowhere to be found. Instead of a productivity revolution that justifies trillion-dollar valuations, the market has double...
Mazen Elmasri
2025/10/155 min read
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The AI Bubble: Why This Time Isn't Different

The managing director of the IMF and a new report from the Bank of England have joined a growing chorus of institutions issuing a stark warning: we are in an AI bubble, and it could be set to burst. The Bank of England’s Financial Committee stated, “equity market valuations appear stretched, particu...
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Mazen Elmasri
2025/09/155 min read
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Beyond the Hype: The Risk Landscape of Real World Asset Tokenization

Tokenization, especially of real-world assets (RWAs), has become a major focus in finance, fintech, IT, and government in 2025. Stated simply, RWA tokenization means creating blockchain versions of traditional financial or physical assets. According to Animoca, the recent scale of this trend is stri...
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Mazen Elmasri
2025/09/103 min read
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Outsourcing Debt: On money, digital currencies, and monetary policy

The US debt has reached a climax! Around 29 trillion printed dollars are parked in bonds, notes, and bills resulting in a debt-to-GDP ratio skyrocketing to around 125%. Servicing this debt is becoming too costly to handle especially with yields on 30year bonds almost at 5%. Global interest owning US...