The Minutes of Howard Marks on profitability https://minutesof.com/howard-marks/on/profitability/ Everything Howard Marks has said on profitability: 3 verbatim quotes between December 2025 and June 2026, each with a timestamp and a link to the… en Sun, 30 Aug 2026 16:22:27 +0000 Marks states nobody can specify what AI will do, when, for whom, or how much profit it will produce. https://minutesof.com/q/d6ea2caa-3f0e-4db8-9d73-5fe4e842e28f/ https://minutesof.com/q/d6ea2caa-3f0e-4db8-9d73-5fe4e842e28f/ “I've never heard anybody tell me exactly what AI will be able to do or when or for whom or how much profit it'll produce and for whom.” — Prof G Markets Fri, 12 Jun 2026 11:00:07 +0000 profitability Marks argues tech companies' incremental profitability is enormous because virtual products have almost no mar https://minutesof.com/q/525c0fcc-5beb-466a-8ae5-ff2eccd45edf/ https://minutesof.com/q/525c0fcc-5beb-466a-8ae5-ff2eccd45edf/ “Their incremental profitability is enormous. When your product is virtual and you're selling one, you're making some money, you want to sell two, there's almost no cost in the second one.” — Pepperdine University Mon, 02 Mar 2026 19:34:48 +0000 profitability Marks cites Buffett's distinction that productivity gains from Internet and AI may not translate to profitabil https://minutesof.com/q/4e58de77-4f33-48b0-a42b-9f893f49347a/ https://minutesof.com/q/4e58de77-4f33-48b0-a42b-9f893f49347a/ “There's no doubt that the Internet will produce a great increase in productivity. It's not clear that it'll have a positive impact on profitability. And I think the same is true of AI.” — The Investor’s Podcast Sat, 13 Dec 2025 22:45:06 +0000 profitability