As AI models commoditize, lasting wealth will accrue to those controlling chokepoints like distribution, payment rails, and a stablecoin dollar, not to the labs (The Commanding Heights)
Scarce, controllable positions of Economic Power whose holders durably capture the gains of Increasingly Capable and diffused intelligence.
Ravi, a graduate of the Indian Institute of Technology Madras, has risen through the ranks of a multinational firm and now manages automated processes powered by AI. The company's margins are growing, and Ravi is making more than ever. He checks his phone for updates from his agents, who are completing tasks in hours that used to take weeks.
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