This blog post makes a historical analogy, which at best is useful for imagining what might happen when investors become less giddy about funding AI. There are

This blog post makes a historical analogy, which at best is useful for imagining what might happen when investors become less giddy about funding AI. There are underlying trends that are directly opposed. Efficiency is improving, but with agents, people are finding new ways to spend more. How that plays out seems difficult to judge. For consumers, maybe the free stuff goes away and spending $20/month on a subscription becomes normalized? Or do costs decline so much that the advertising-supported model (like Google search) works? Or does inference become cheap enough to do it on the client most of the time? Meanwhile, businesses will likely be able to justify spending more.