Ed Elson

But he doesn't really acknowledge that side of the equation.

He only focuses on the downside, which, when you read it, is kind of interesting.

But when you start to logically think it through, it doesn't really make much sense.

I think this is a really important point.

You mentioned you're pulling back on a certain type of legal service and you're spending a lot less money on that because you've got this AI tool that is helpful and you've hired someone who's going to consolidate that work.

But then you're spending more on the corporate restructuring over here.

And that is a dynamic that I think a lot of people are not really recognizing, which is, sure, some money might move out of this ecosystem, but then where is it going to go?

That's the question that people aren't really asking enough and that the Citrini Research article actually refuses to acknowledge at all.

They spend a lot of time saying, here's where the money is going to move away from.

It's going to pull out of here and here and here and here and here.

And then...

I don't know.

And they just offer no other alternatives.

And I think in my view, one of the silliest predictions is the idea that friction goes to zero.

This is a big thesis that we see in the article.

The idea that all forms of friction in business and in daily life, when you're

you know trying to book something and it takes time and it's annoying all of these things that often involve some level of middle management or human relationships all of that is going to go to zero because ai agents can do them for us therefore friction on which a lot of the economy is built is going to be entirely eliminated that's the way they describe it it's just gone now

That, again, is the wrong characterization.

Because what's happening, it's not that the friction is suddenly eliminated, it's that we now have a technology and a set of companies that are just handling the friction better than the old companies, which is the same thing we always see with technology.

If you look at Visa, which was brought up in the article, or MasterCard,