If AI fulfills it's promise the economic affects will be profound. The article considers various investment ideas for navigating a theoretical world where AI does actually deliver on its promise.

AI's newfound ability to code will greatly accelerate its progress. And the timeline for profound scientific and economic change may be shorter than many expect. But history is also littered with technologies that failed to deliver on expectations. And even successful breakthroughs don't always scale cleanly. This section looks at both the case for rapid change and the reasons AI may stall or stop.

So far, the AI boom has been an expensive disappointment, involving massive spending and hype, and very little to show for it. But the latest release of Claude Code delivered a sudden and dramatic improvement in a pivotal and crucial area. The risk of an AI bubble remains real. But if AI continues to improve at this pace, the effects on jobs and the economy could be huge — and arrive far sooner than many expect.

In Part 1 I explained the strategy, allocations, and overall performance of my alternative portfolio. Here in Part 2, I go deeper into the individual investments — including real estate, GP stakes, litigation finance, music royalties, private equity, search funds and more— along with income, distributions, lessons learned, and future plans. And I also discuss cash management, taxes and what I'm looking at going forward.