Last week's memo named the structural problem in agentic commerce – stronger agents extract surplus from weaker ones, and the losers can't tell. This week is for the operators. If you are a PM at a company whose product will, within twelve months, host transactions between AI

In December 2025, 69 Claude agents ran a real marketplace inside Anthropic's San Francisco office. Stronger agents extracted better prices from weaker ones. The losers couldn't tell. That's not a curiosity – that's the business model of every agent-to-agent platform shipping

Marc Benioff is dismantling the abstraction that built Salesforce. The question is not whether he's right that software is becoming labor. It's whether the company that defined the seat can also define what replaces it. In every technology cycle, there's a moment when the

Two and a half years after Klarna replaced 700 customer service agents with an OpenAI-powered assistant, the company is hiring humans again – and quietly building the architecture every enterprise will need next. In February 2024, Klarna told the world it had done what almost everyone else was still talking

For much of the past year, the technology industry has rallied around a deceptively simple idea: software, enhanced by artificial intelligence, would become a copilot--a responsive assistant embedded into existing workflows. It was a compelling narrative. It was also, increasingly, incomplete. In recent discussions--echoed in conversations across the

Inside OpenAI’s Quiet Identity Crisis--and Why It Could Reshape the Entire Industry By any traditional measure, OpenAI should be the undisputed center of gravity in artificial intelligence. It has the brand. It has the users. It has the fastest path from research to global adoption ever recorded in