Tavi Costa on Why Hard Assets Could Win in the Next Macro Cycle

Recorded on March 12 2026 Steve Yang sits down with Tavi Costa of Azuria Capital for a deep macro conversation on where the next hard asset cycle may be heading. Tavi explains why he believes a weaker dollar, suppressed rates, and years of underinvestment are creating a powerful backdrop for commodities, mining, energy, and agriculture. He lays out why energy could lead before food follows, why natural gas remains critical for rising electricity demand and data centers, and why he still sees major upside in hard assets over the next 5 to 10 years. The discussion also dives into twin…