[Animats]

"Many observers of recent trends" - sounds like ChatGPT. It's too old, though. It's probably in ChatGPT's training set.

I read that decades ago.

What they missed is that computers helped existing companies some. But they helped new companies that didn't have legacy problems far more. Over time, the new companies became larger than the old ones, and sometimes replaced them. When that paper was written, there were three main TV networks, newspapers in every city, and the advertising industry was Madison Avenue in New York. Now, all that is irrelevant.

[oliculipolicula]

Thanks to TFP, I still expand GPT as "General Purpose Tech"

Brynjolfsson and others have developed a quantitative framework with which to pinpoint the moment in market-time where AI emerges as a GPT

Took inspiration from TFP and Tobin's q

https://www.chicagobooth.edu/review/why-artificial-intellige...