Back Research Notes WILL THE 2030S WILL BE A GRAVEYARD FOR FORTUNE 500 COMPANIES? Published on July 6, 2025 By Jordi Visser In this week’s video ( watch here ), we break down what’s behind the continued move to all-time highs in the stock market and why upcoming bank earnings could be the most important to watch. As the rally broadens globally, AI adoption is beginning to lift sectors beyond tech. But beneath the surface, signs of structural change are growing—led by capital flowing into AI-native startups and tokenized business models. Venture capitalist Vinod Khosla warns that the 2030s may be a graveyard for Fortune 500 firms unable to reinvent themselves fast enough. We cover the pressure building on the Fed to cut rates, the weakening labor market signals that could justify it, and the broader transformation underway in crypto, energy, and AI infrastructure. From Meta’s all-in superintelligence push to Ethereum’s role in tokenizing real-world assets, the episode connects the dots between exponential tech and the unraveling of legacy systems. The future isn’t coming—it’s being priced in right now. Timestamps: 00:00 – Market strength accelerates • S&P 500, NYSE, and ACWI breadth hit multi-year highs • Global participation strongest in over a decade 01:53 – AI adoption goes mainstream • “Agentic” and “reasoning” AI starts spreading beyond big tech • Broader sectors like industrials and healthcare begin to benefit 02:16 – Focus shifts to banks and JPMorgan • JPMorgan pushing AI adoption while slowing hiring • Bank earnings could confirm broader AI-driven margin expansion 04:04 – Rate cut narrative gains traction • Inflation remains soft despite tariffs and nominal growth • Political pressure grows for the Fed to prioritize growth 06:02 – Labor data shows cracks • Aggregate payroll growth hits zero • Diffusion index falls below historical recession thresholds 11:19 – Commodities and energy in structural shift • Rare earths, copper, and natural gas break out • U.S. may rely on fossil fuel majors for infrastructure buildout 13:29 – Khosla’s 2030s forecast: legacy collapse • Fortune 500 firms expected to falter under AI disruption • Humanoid robots, fusion energy, and tokenization reshape the economy 16:56 – Rise of tokenized AI-native startups • Future leaders may never IPO, opting for crypto-native capital • Public markets could underperform long term as capital exits 18:54 – Meta’s AI superintelligence push • Meta racing to catch up with OpenAI through aggressive hiring • AI arms race reflects existential fear inside Big Tech 21:01 – Ethereum and stablecoin ecosystem gains momentum • Ethereum leads RWA tokenization and stablecoin infrastructure • July legislation could mark an inflection point for crypto adoption Watch here