The Fox News Rundown Business Rundown: Hardware vs. Software, Anthropic, And The Future Of AI
Feb 27, 2026
Lou Basenese, EVP of Market Strategy at Prairie Operating Company and FOX contributor, offers market analysis on AI and macro trends. He breaks down the hardware vs software showdown on Wall Street. He discusses Anthropic’s standoff with the Pentagon. They also touch on mixed economic signals, mortgage trends, and an odd marketing push for kids’ makeup.
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AI Forces A Rethink Of Software Valuation
- AI can't be both a speculative bubble and simultaneously wipe out all software companies; it's reshaping valuation models rather than erasing incumbents.
- Lou Basenese says AI builds on existing software layers and will force investors to pivot from revenue multiples to profit-focused valuation.
Block Layoffs Framed As RightSizing Not Pure AI Automation
- Lou Basenese calls Jack Dorsey's 40% Block layoffs a management resizing, not purely an AI-driven cut.
- He compares Dorsey's overhiring during COVID to Twitter's post-acquisition cuts and calls AI a convenient scapegoat.
AI Creates New Jobs Even As It Displaces Others
- Technological revolutions create new jobs even as they disrupt existing roles; AI will spawn roles we barely understand today.
- Lou Basenese and Taylor Riggs cite cloud solutions architect as a job that emerged from prior tech shifts.