The Arbitrage Turn
Almost everything we call a business is a position held across a gap, and AI is the technology that prices every gap at once. Two essays turn from the arbitrages AI dissolves to the ones it creates, following the value as it leaves the local hand and moves one layer up to whoever owns the instrument doing the auditing. The bridge from the main series into the Arbitrage series.
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The New Arbitrageurs
AI does not only dissolve the gaps people charged for. It opens new ones, and the thing exploiting them is not a person. It is a system, moving at machine speed across thousands of …
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The Thread
On the small thing the last essay noticed, and how far it turned out to run
Cora got rid of the travel agent and booked the cabin herself. Then she read every line, the way she always does, and found the new fee, the new middleman standing one layer up …