In the course of a year, the tech industry’s dreary post-social, post-crypto interregnum was rapidly supplanted — largely as the result of public-facing efforts by OpenAI, which is reportedly in talks with Microsoft about a potential $10 billion investment — by a story about inevitable technologies that are  so  transformative,  so  incomprehensibl

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The point is that exponential technologies collapse the old prestige hierarchy. The decisive edge shifts from owning the biggest tchotchkes to building the fastest adaptation loop.

In 2025, AI is similarly eating the entire economy—from the stock market (AI-related stocks have accounted for 75% of S&P 500 returns since ChatGPT launched in November 2022) to the construction industry. According to JPMorgan , data centers “are eclipsing office construction spending” and pushing up electricity prices across the country.

Are we proceeding to a new kind of economic reality, one that mirrors the changes in media that happened over the last 20 years? Where the spread of new enabling platforms (Then: the internet, social, mobile. Now: compute, LLMs, robotics) creates new resilience and a new understanding of the economy and relationship between individuals,... See more