Long explanations, when the subject earns one

Each piece answers one question properly and all the way through. No listicles, and no predictions about what happens in five years.

3 articles on Business

An enormous column of investment whose top runs off the top of the picture, and beside it a far shorter column of measured results.

Article · Business

Is there an AI bubble

Four companies will invest 760 billion dollars this year. Meanwhile most companies get no measurable effect on their results. Both can be true.

6 August 20265 min

Five stacked layers from electricity to business, and an arrow showing that value accumulates from the bottom up.

Article · Business

The AI ecosystem: from electricity to the customer's benefit

The whole chain in one piece: where the electricity comes from, what happens in a data centre, how a model is trained, and where the money finally ends up.

4 August 202614 min

One tall column for the one-off cost of training, and beside it an endless row of small columns for the use that is paid for every single time.

Article · Business

Why the cost of AI catches people out

Training is a separate investment. Running it is paid for every single time.

4 August 20263 min