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Research on markets, companies, capital allocation, and the systems that shape long-term value.
AI Did Not Eliminate Copyright. It Started Repricing It.
Getty's OpenAI partnership suggests that generative AI may commoditize generic images while increasing the value of authentic, traceable, and commercially licensed visual assets.
DeepSeek's Funding Round Is Really About Control
DeepSeek's reported funding structure matters less for the headline valuation than for what it says about founder control, patient capital, open weights, low pricing, and China's AI infrastructure strategy.
US and China AI Are Moving Toward Two Different Systems
AI competition is no longer only about model rankings. Different compute conditions are pushing the US and China toward different technical and commercial systems.
China's Flexible Workforce Shows Where Part of the AI Dividend May Go
China's large flexible workforce suggests that AI's efficiency gains may not only flow into traditional full-time jobs, but also into task-based and project-based work.
AI Efficiency Is Not Enough. Who Gets the Dividend?
AI can raise efficiency, but the more important long-term question is who captures the new income, bargaining power, and opportunity created by that efficiency.
Cross-Border Investment Is Entering a Compliance-First Era
Cross-border investing is moving from channel-first thinking to compliance-first execution. Investors and companies must explain source of funds, purpose, account use, and transaction path.
Hong Kong's Economy Has Two Faces: Better Data, Cautious Businesses
Hong Kong's headline numbers are improving, but the recovery is uneven. Macro data looks better while many businesses still calculate costs, demand, and cash flow carefully.