3 ms·
I recommend thinking through a bit more how AI will lower transactional costs as discussed in Ronald Coase's "Nature of the Firm." [1] Cheaper and unconstraine
by kromem 3y ago
I recommend thinking through a bit more how AI will lower transactional costs as discussed in Ronald Coase's "Nature of the Firm." [1]
Cheaper and unconstrained scale of labor for certain types of tasks is going to mean a lot more to smaller and leaner firms than behemoths.
Within the decade I suspect that companies currently or soon cutting talent that have extensive familiarity with domain knowledge in that space will turn out to have made a very poor move for long term viability.
In general, I have a hard time seeing a number of sectors continuing to be dominated by large corporations as they are currently over the next decade as this technology improves.
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1 - https://en.m.wikipedia.org/wiki/The_Nature_of_the_Firm https://en.m.wikipedia.org/wiki/The_Nature_of_the_Firm