Announcements
The Depreciation Trap: Why the AI Bubble Is Real, Inevitable, and Irrelevant
AI’s core risk isn’t validity but timing: massive capex assumes demand grows fast enough. If supply outpaces real usage, GPU economics collapse, exposing fragile financing. Depreciation doesn’t cause the correction; it determines when it becomes visible.
The Verification Gap: From Low Energy To Proven Correct
Generation is cheap. Verification is what creates trust. The systems that matter won't be the ones that generate plausible outputs—they'll be the ones that can prove their outputs are right.
The Software Paradox: Bigger Industry, Fewer Winners
AI will produce the most valuable software companies in history while destroying most that exist today. The industry gets larger. The winners get fewer. Software creation is becoming cheap. Distribution and trust are becoming more valuable. That's it.
The Governance Gap
The US President banned Anthropic's AI on a Friday afternoon. That evening, the military used it to bomb Iran. That's not a policy dispute. It's a governance gap — and no contract, no executive order, and no App Store ranking can close it.
The Re-Materialization Of Intelligence
Yann LeCun left Meta and raised $3.5B on a radical thesis: autoregressive LLMs are a dead end. The future is world model simulation, not token prediction. Language survives the shift. The current architecture may not.