BLS

3 items

Wall Street Journal 2026-05-09-1

AI Is Distorting Practically Everything About the Economy

The Mag-7 aren't leading the economy; they're substituting for it. Strip out tech equipment, software, and data-center construction, and Q1 GDP growth was effectively flat — Tedeschi's import-netting cuts AI's headline contribution from 1.7pp to 0.4pp, with the remainder leaking to Taiwan and Korea. That makes the Fed's reaction function structurally late: the number it's reading is real, but what it's measuring isn't.

Economic Forces 2026-05-08-3

You Are Not a Horse: AI and the Future of Labor Demand

The AI displacement debate keeps confusing labor share with labor demand. Albrecht's three-channel decomposition shows the horse outcome requires substitution dominating scale at task level, AI dominating every sector spending migrates to, and consumers stopping their drift toward human-intensive activities: all three must break simultaneously. The likely 2026 to 2030 steady state is total employment growing while productivity gains flow to capital, and most operating models are not designed to plan for both at once.

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Colossus 2026-03-21-1

We Have Learned Nothing: The Red Queen Eats Startup Method

BLS survival data is flat over 30 years and Crunchbase seed-to-Series-A conversion is declining: Jerry Neumann's case that Lean Startup, Customer Development, and the rest of the New Punditry produced zero measurable improvement is empirically anchored. His prescription is a Red Queen meta-theory via Feyerabend: any method, once widely adopted, becomes self-defeating through competitive convergence, so the only science of entrepreneurship operates at the level of generating new methods, not prescribing them. The convergence argument is the strongest element; the data argument has an ecological fallacy problem (BLS counts restaurants alongside SaaS startups) and a missing counterfactual (flat survival might mean methods prevented a decline, which is the Red Queen working within punditry itself). The sharpest extension is to AI-native startups: if method convergence is the mechanism, AI collapses the cost of convergence to near-zero; everyone builds the same thing faster, differentiation half-life shrinks to weeks, and the Red Queen sprints where she once walked.