Agent connections are still hand-built. The pieces to fix that exist—but nobody's assembled them yet.

Registries indexed 100,000+ agents. Developers still use Google to find MCP servers. The catalog problem got solved. The discovery problem didn't.

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The internet's trust mechanisms all trace back to a human who can be held responsible. Agents remove the human. The infrastructure was not designed for that.

AI inference prices fell 1000x in three years. Open-weight models like DeepSeek and Kimi mean the floor stays low permanently.

The binding constraint on AI isn't chips—it's power. The Bitcoin miners who survived the 2024 halving already own the grid-connected megawatts.

Inference got 430x cheaper per token, but agents burn 100x more of them. Real savings on agentic workloads is 4.3x, not 430x. Why the curves diverge.

Apple just handed Google the intelligence layer of 2.2 billion devices, and the contract clause protecting users costs Google almost nothing.

Mastercard and Visa announced agent credentialing systems on the same day. The claim underneath: the right to decide which AI agents can act in commerce.

Every open-weight AI model runs on CUDA. NVIDIA owns the platform and the chip beneath it, so the substrate captures the economics the model gives away.

Alibaba ran 28.8 million queries through Claude to distill it. The API that monetizes a frontier model is also the vector that copies it.