Wall Street Sees AI’s ‘Creative Destruction’ Coming For Entire Companies

Wall Street is starting to price in a bigger AI disruption than many expected—one that could reshape entire business models, not just reduce headcount. The piece highlights growing investor concern that, like past technology waves, AI will drive major productivity gains while simultaneously rendering some companies and industries obsolete.

For leaders like Mark Wetjen, the shift underscores a parallel transformation already underway in financial markets: new technologies—from AI to digital assets and prediction markets—are challenging traditional structures and accelerating the move toward more direct, tech-enabled market participation.

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Backpack Exchange Taps Ex-CFTC Chief Mark Wetjen to Lead U.S. Expansion