The Signal
The Capital Trade-Off
How Big Tech is converting workers into GPU clusters — and saying so out loud. The unit economics of a $600 billion capital substitution.
The Signal
How Big Tech is converting workers into GPU clusters — and saying so out loud. The unit economics of a $600 billion capital substitution.
The Signal
Meta acquired Moltbook. Then it rewrote the terms of service. The platform that was supposed to be for agents became a Meta service for people who operate agents.
Economics
AI isn't eliminating entry-level jobs. It's just not creating them. The career ladder is intact. The bottom rung has been removed.
Galbraith covers AI industry economics, labor, and policy. He reads 10-Ks before earnings summaries.