While the AI agent meta has rightfully taken crypto twitter and markets by storm, another question is now being whispered at Palo Alto dinner parties which has broader implications for global markets.

Are the fabled scaling laws beginning to plateau?

The answer impacts Big Tech capex spend and stock prices, inflation’s trajectory, the semiconductor industry, global economic growth and, inevitably have fallout for deAI and crypto asset prices.

While the hyperscalers continue to invest heavily, the pace of change appears to have hit a deceleration in the S-curve, or