The Blueprint for America
I’ll admit, I was jealous.
Back in ’99, I was playing poker at the Mayfair Club in New York City, and someone mentioned he worked for this guy:
Wilbur Ross.
You’ve probably heard of him.
Ross built a reputation by taking on industries everyone else had written off—coal, steel, textiles—and turning them into success stories.
Through his private equity firm, WL Ross & Co., he mastered the art of distressed investing, restructuring failing companies into profitable ventures. That ability to see value where others saw ruins cemented his status as a legend in the world of finance.
Now, Wilbur has a new book out called Risks and Returns. It’s about his 55-year career building businesses and his experiences in government as Secretary of Commerce.
So, I can’t believe I had the chance to talk with him this week about this incredible journey.
Ross told me stories about how he navigated bankruptcies, outsmarted Warren Buffett, and reshaped industries on the brink of collapse. (Full podcast link below. Worth a listen.)
No less, he also gave me his take on AI, space, and the future of U.S. economic security.
Let’s start with AI.
AI Will Touch Everything
Before Henry Kissinger’s 100th birthday, Ross ran an experiment, testing an AI's ability to write poetry.
It was clumsy at first.
Five minutes later, it improved. Fifteen minutes later, it was composing verse in iambic pentameter.
For a guy who’s seen the rise and fall of industries, this caught him off guard. The implications were clear: AI is self-learning, and it doesn’t take long for it to get good—fast.
Ross understood this wasn’t just a parlor trick.
This was a shift in the underlying gears of the economy. The future of the economy will hinge on harnessing AI’s potential across multiple sectors—from manufacturing to finance.
“It was a real eye-opener,” he said.
Space: The New Economic Battleground
If AI is the brain of the future economy, space is its infrastructure.
Ross told me about the time he watched firsthand Elon Musk’s reusable rockets change the economics of space launches forever.
Musk cut launch costs by 70% simply by landing the rocket intact, making space accessible to private companies in a way that had never been possible before.
For Ross, space isn’t just the final frontier—it’s the next battleground for economic and technological dominance.
He sees the commercial potential in space—satellite launches, space tourism, manufacturing, even resource mining—but also understands the national security implications.
Whoever controls space controls communication, surveillance, and key infrastructure for the future.
Here’s where it gets real.
Economic Security: The Hidden Threats
Ross is deeply concerned about America’s dependence on foreign supply chains, especially when it comes to critical resources like rare earth minerals and semiconductors.
These materials are essential for everything from smartphones to military weapons, and right now, China dominates the market.
According to Ross, this dependence poses a national security risk that the U.S. can no longer ignore.
During his time as Secretary of Commerce, Ross tried to push for domestic production of these key resources.
He saw firsthand how fragile the U.S. economy is without control over its supply chains.
The U.S. must ramp up its own production of rare earth minerals and semiconductors—or risk being cut off by geopolitical tensions.
It’s not just about economics; it’s about survival.
Ross’ Blueprint For America
So what’s Ross’s vision?
It’s not just about innovation for the sake of it. Ross’s blueprint for America is focused on securing the future by addressing three core pillars: AI, space, and economic security.
He believes the U.S. must invest in these areas aggressively, or it will fall behind global competitors, particularly China.
- AI Dominance: AI will change every industry—from manufacturing to healthcare to finance—and the U.S. needs to lead in AI innovation, ensuring that this technology is used to strengthen the economy rather than replace it.
- Space Expansion: Space is the new economic battleground, with potential for enormous growth in industries we can’t even fully comprehend yet. Space-based infrastructure will become as essential as roads and bridges are today.
- Securing Supply Chains: Ross believes the government should incentivize domestic production, creating a safety net for the U.S. economy in times of crisis.
Here’s the bottom line…
The Secret to Success
Wilbur Ross has built a career out of seeing the big picture when others couldn’t.
Whether it was buying distressed coal mines or navigating trade wars, Ross has always had a long-term view.
Ross’s message is clear: If the U.S. doesn’t step up, someone else will.
We talk about a lot more - including how he outsmarted Warren Buffett and his secret to success - on my podcast.
