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"The current debate around artificial intelligence conflates the recursive potential of the technology with expectations of recursive economic deployment." - Frank Flight (On the fallacy of exponential adoption) [Section: Recursive Technology ≠ Recursive Adoption]
"If the marginal cost of compute rises above the marginal cost of human labor for certain tasks, substitution will not occur, creating a…
The report "Infl-AI-tion Risks" by Frank Flight, a Macro Strategist at Citadel Securities, argues that while markets are currently fixated on the deflationary potential of AI (labor displacement), the actual near-term risk is higher-than-expected inflation.
Citadel offers "conceptual pushback" to the popular narrative that AI will quickly lower costs, highlighting several factors that are instead driving…
TCI Fund Management’s Record-Breaking Performance