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Tech Philosophy and AI Opportunity – Stratechery by Ben Thompson

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One of the most paradoxical aspects of AI is that while it is hailed as the route to abundance, the most important financial outcomes have been about scarcity. The first and most obvious example has been Nvidia, whose valuation has skyrocketed while demand for its chips continues to outpace supply: Another scarce resource that has come to the forefront over the last few months is AI talent; the people who are actually building and scaling the models are suddenly being paid more than professional athletes, and it makes sense: It’s that last point that is fairly unique in tech history. While great programmers have always been in high demand, and there have been periods of intense competition in specific product spaces, over the past few decades tech companies have been franchises, wherein their market niches have been fairly differentiated: Google and search, Amazon and e-commerce, Meta and social media, Microsoft and business applications, Apple and devices, etc. This reality meant that

Tech Philosophy and AI Opportunity – Stratechery by Ben Thompson Skip to content Tech Philosophy and AI Opportunity Tuesday, July 8, 2025 Listen to Podcast Watch on YouTube Listen to this post : Log in to listen One of the most paradoxical aspects of AI is that while it is hailed as the route to abundance, the most important financial outcomes have been about scarcity. The first and most obvious example has been Nvidia, whose valuation has skyrocketed while demand for its chips continues to outpace supply: Another scarce resource that has come to the forefront over the last few months is

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