The GenAI economy has generated $110 billion in sales over the past 12 months. It is growing fast. On an annualized basis, the revenue run rate exceeds $175 billion. These numbers took us several months to construct, and as far as we know, it’s the first bottom-up, deduplicated measure of consumer and enterprise AI spending across the full stack. We are releasing this research today in our first The State of the AI Economy report. intelligence.exponentialview…

For Meta, Muse is a play to get marketing dollars. Zuckerberg told developers this week that Meta will “profit by taking a small fee from transactions”. Walmart, Best Buy, Sephora and Expedia have signed up. But is Muse my butler, or is it secretly working for Meta? That small fee, from merchant to Meta, is a big problem. The butler’s loyalty can’t be in two places. It will follow the coin... My commentary, open to all: exponentialview.co/p/meta-mu…

🤖 Your agent, whose interests?, by @azeem open.substack.com/pub/expone…

Brutal!

We're starting to see some things *ORACLE SENDS FORCE MAJEURE NOTICE OVER NEW MEXICO DATA CENTER

Super interesting! But isn't this just the economy? If they took a fixed $ from every worker in the US they'd be more concentrated than your number. Do you see higher/lower concentration among other companies you track?

My latest for @TheEconomist: AI writing is taking over politics. 10% of what was is said in Parliament is now AI-drafted, per Pangram. Yet more in the House of Representatives, or in Australia and Canada. Link: economist.com/britain/2026/0… And a 🧵 below, w/ some main offenders

I sat down with my friend @nxthompson to work through the big question: are we in an AI bubble? piped.video/watch?v=bI9mGMEa…

Run-roh.

One of the biggest questions in AI is whether we’re in a bubble. The company valuations are massive—not just for firms on the leading edge, but for ones that have little more than a name and an idea—and they’re all doing deals with one another. Lots of smart analysts say that we're in a moment that may resemble the 1920s, early 2000s, or 2008. This would not be good for our 401Ks and much else. On the other side you have people like @azeem, who, in June, released a report on the state of the AI economy. He and @ExponentialView dug into all of the available numbers, tracking and deduplicating every dollar. They looked at capex and revenue and token pricing and chip efficiency and competitive pressure from China and a host of other factors. Their conclusion was that the math should work out. This is a huge question: even if you believe in the power of technology, you can doubt the markets. Even if you doubt the technology, you can trust the signals that the markets are giving. So I sat down with Azeem to go through it all, testing all the best arguments I've heard about whether we're in a bubble and what could make it pop. I hope you watch and subscribe. piped.video/watch?v=bI9mGMEa…

Learn AI, make more money. 💸

AGI they said.

U.S. labor productivity, 2013–2026: > Unremarkable growth for most of the 2010s > Breaks sharply higher starting 2020 > Now running 2.2% above where the old trend said we'd be The last time this happened was 1995–2004, when the internet added close to 3% a year for a full decade. Looks like we're a few years into the sequel.

🚨 Introducing: AI Investment Brief. Are AI revenues real? When does the spending translate into profits? Are we heading for an infrastructure glut? We’ve built a research capability to closely follow these questions and the numbers behind them. That research is now available here: investmentbrief.ai/

Azeem Azhar @azeem and his team at @ExponentialView have spent years digging into the biggest questions in AI and publishing original, in-depth research, including their viral State of the AI Economy report. Now, the team is launching a new publication, the AI Investment Brief. It builds on the same technology and research platform to answer questions about where the AI cycle stands and where profits are moving. Read a sample issue for free to get the team's current view on the two main risks to the AI buildout paying for its costs: investmentbrief.ai/p/ai-inve…

the agentic takeover (of Main St)

This guy just threw a slop grenade at us. Straight from claude to post. Moving the burden of verification onto every single reader. Good thing some of us (in this case @xeophon) know to look at the data and share, see reply.