WorkThe story, in brief
Mythos, Muse, and the Opportunity Cost of Compute
Aggregation Theory is dead. Long live compute scarcity.
The KeyNews take
Why it matters
Strategic commentary on how constrained compute fundamentally reshapes market power dynamics—shifting control from demand aggregation to supply rationing. Critical read for founders betting on distribution-first AI strategies.
The key facts
4 to knowAggregation Theory survival contingent on controlling demand amid compute constraints
Compute scarcity as new source of competitive moat
Supply-side power dynamics replacing demand-side network effects
Published by Stratechery—Ben Thompson's independent analysis platform
Go to the source
Stratechery (Ben Thompson)stratechery.com
Publisher excerpt: Does Aggregation Theory survive in a world of constrained compute? Yes, insomuch as controlling demand will give power over supply.