Editorial companion

What stands out

Ed Zitron’s blunt line, "Everyone Has Been Sold a Lie", landed on the same week Microsoft and Amazon laid out bigger bets on artificial intelligence (AI) and more capital spending. He argues much of that capital expenditures (CapEx) is not spreading AI to millions of customers but underwriting costly infrastructure that mainly benefits a couple of loss-making model owners, a critique worth hearing when corporate presentations look like evangelism. Bloomberg Television carried the pushback, and investors should treat the sales pitch and the balance sheet as different stories.