Concentration
The bull says the moat is the model. This week it showed itself for what it really is — a backorder. Anthropic's biggest customers are leaving the second they're able, and the only reason they can't leave faster is that you can't buy a data center right now. That's not a franchise. That's a sold-out quarter wearing a franchise's costume, and the market is about to price it as the real thing.
Harry DeMott · Oct 7, 2026 · 11 min read
Future-Proof
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The Sorcerer’s Apprentice
An agent is a skill with no context — and the context was the whole job. Fire the people who have it, hand the broom your name and the company card, and good luck.
Two-Way Street
Adoption and usage are up and to the right; the bulls have that right. But the money's a two-way street — give an agent a cost target and it routes demand off the frontier, down and to the left, while every dollar of capital is committed up at the top. The Anthropic IPO is where we find out who read the traffic correctly.
I Don’t Believe in the No-Win Scenario
The model finally got good enough to break the crutches we built for its shortfalls, so in one day the scaffolding, the benchmark, and the ship-first reflex all flipped. Stop trusting the proxy; own the judge it can't see.
Did You Order The Code Red?
The White House answered the rogue agents with a pledge. A plaintiff, the FTC chairman and your insurance carrier answered with something enforceable: whoever gave the order pays.
A Business Owner’s Guide to AI Image and Video Generation
I am writing this because my partner Harry DeMott’s recent newsletter covered Higgsfield and I felt like we...
Everyone built the same employee
On Tuesday in San Francisco, OpenAI walked a new agent called Dots onto the DevDay stage. During the...
