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   Jonathan Schofield (urlyman@mastodon.social)'s status on Monday, 01-Jun-2026 10:20:02 JST Jonathan Schofield

   “Last year, over half of new content on the internet was AI-generated. The humans are still there, scrolling, but the thing they’re scrolling through has become a performance staged by machines for an audience that hasn’t yet realized the show isn’t for them.”

   https://www.owenmcgrann.com/p/the-dead-economy-theory

   • Steve's Place repeated this.
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     Jonathan Schofield (urlyman@mastodon.social)'s status on Monday, 01-Jun-2026 10:20:02 JST Jonathan Schofield

     in reply to

     …“OpenAI alone has been valued at north of $800 bn. Anthropic, yet to produce a single year of profit, commands a valuation in the same stratosphere. These numbers need an addressable market large enough to justify them.

     There is only one market that large: the global labor market.

     …

     The financial model requires the elimination of human cost at civilizational scale. If it doesn’t do that, these companies are the most overvalued assets in the history of capitalism.”

     https://www.owenmcgrann.com/p/the-dead-economy-theory