Episode 2: Advait Arun, author of the Bubble or Nothing report

In this episode, I’m joined by Advait Arun, a climate finance and energy infrastructure analyst whose work looks at how capital markets underpin large-scale technological and industrial transitions. He currently works with the Center for Public Enterprise, a nonprofit think tank which designs public finance programs for local and state housing, energy, and transportation authorities. His latest report, Bubble or Nothing, evaluates some of the the shaky financial assumptions behind the AI investment boom and the resulting data center buildout. His analysis is widely read for its technical precision and refusal to rely on speculative narratives. He has also written about public-sector project finance, derisking geothermal and nuclear energy, and federal lending programs.He previously worked in the U.S. Department of the Treasury's Office of Sustainable Infrastructure, where he helped implement the Just Energy Transition Partnerships and monitored global climate-aligned infrastructure investment strategies. He graduated from Georgetown's School of Foreign Service with a degree in international political economy. Today we discuss Bubble or Nothing and what it means for investors, for regular Americans, and for policymakers.