Bank of America’s claim that we’re in a bubble and investors should sell stocks is flawed.

Not only does this go against investing wisdom (hold for the long haul bubble or not) it missed a key aspect. There is a dramatic shift happening in productivity following a wave of business focus on iterative agile development across many sectors. Technology that improves collaboration, standardized process, and improves outcomes is increasingly being adopted. Examples include Jira, Confluence, cloud based API driven platforms, Power BI, and now accessible AI. Smart companies will continue to thrive as they adopt these technologies into every imaginable component of business systems and process.

This type of economic advancement, especially LLMs (Bard, Bing, GPT-4) are historically rare but increasingly common.