The CEO of Africa's largest bank states they strategically avoid being on the cutting edge. This "fast follower" approach allows them to adopt proven innovations responsibly while avoiding the high costs and risks of being a pioneer.

While international markets have more volatility and lower trust, their biggest advantage is inefficiency. Many basic services are underdeveloped, creating enormous 'low-hanging fruit' opportunities. Providing a great, reliable service in a market where few things work well can create immense and durable value.

History shows pioneers who fund massive infrastructure shifts, like railroads or the early internet, frequently lose their investment. The real profits are captured later by companies that build services on top of the now-established, de-risked platform.

Legacy industries are often slow to adapt due to inertia and arrogance, creating massive opportunities. Flexport built a simple duty calculator in three days that the entire trade industry adopted, proving that a startup's key to success can be entering a field where competitors are technologically complacent.

The real investment case for AI in Europe is not in creating foundational models but in adoption. The continent's vast 'old economy' index has significant potential for productivity gains. As AI's return on investment becomes clear, Europe could be re-rated as a major beneficiary of AI adoption, capitalizing on its large industrial base.

The strategy of selling advanced tech to rivals like China to create dependency is flawed. The example of Tesla in China, which arguably gave BYD a 'paid education' in EV manufacturing, shows this approach can backfire. Instead of addiction, it can accelerate a competitor's ability to learn, iterate, and ultimately leapfrog the original innovator.

Europe's path to economic growth may be easier than America's precisely because it's starting from a lower base. It's easier for a '1.5 GPA student' to improve to a 2.5 than for a '3.6 GPA student' to reach a 4.0. With strong universities and talent, Europe has the assets to make significant gains by fixing fundamental issues.

Poorer countries, unburdened by legacy fossil fuel infrastructure, have a unique advantage. They can bypass the dirty development path of wealthy nations and build their energy systems directly on cheaper, more efficient renewable technologies, potentially achieving energy security and economic growth faster.

A Polish economics professor attributes the country's rapid growth—from poorer than Jamaica to richer than Japan in 35 years—to a societal hunger to surpass Western Europe. This drive results in a powerful work ethic, with the average Pole working 700 more hours per year than an average German.