Paul Vigna
37.2K posts
@paulvigna
Author of The Almightier, Age of Cryptocurrency, Truth Machine. Email: [email protected] (Also, they gave me back the blue checkmark; not paying for it.)
Vega Ioane Cut Ups
🚨 SAM ALTMAN: “We see a future where intelligence is a utility, like electricity or water, and people buy it from us on a meter.”
In this economy, capital is triumphant, labor treads water. Big tech companies are worth more and use less labor than market leaders a generation ago, driving down labor's share of output. AI will intensify this trend. My latest: wsj.com/economy/jobs/c…
Why is there a hiring recession with the Dow at 50k and GDP growth so strong? There are 3 key reasons: 1) WH policy on tariffs, immigration and DOGE 2) Many firms overhired in 2022/2023. They're slimming down now 3) AI Smart people give these 3 factors different weights. I laid out my thinking this week in a @voxdotcom piece: vox.com/the-highlight/… 60% due to WH policies. Tariffs and DOGE lowered DEMAND for workers. Immigration lowered SUPPLY. 30% correction for overhiring. [Lower Demand] 10% AI [Lower Demand...not b/c AI is doing the job, but b/c firms are spending so much $$$ on AI that they have less for anything else, including workers] #jobs #economy #stocks #hiring
Just to be clear, there were no 2,000-word features on a local basketball team. More than anything, it speaks to the lack of engagement with the sports department from whoever this unnamed person is, someone who likely helped decide the fate of dedicated reporters and editors.
Adam Smith was a moral philosopher. Once upon a time, economics was not an abstract science. We tried separating money and morality, @paulvigna explains. How's that been going? avenuem.substack.com/p/how-greed-re…
A thousand years ago, the world we take for granted would have been unthinkable. Our latest episode features @paulvigna, author of The Almightier, exploring how capitalism emerged (and not from unchanging human nature--rather, through specific transformations in Renaissance Italy). The Catholic Church was converted. The Protestant Reformation was co-opted. Money became God. Understanding this history matters—not least because we can appreciate that what feels inevitable was actually constructed. And what was constructed can be reimagined. A conversation for anyone wrestling with economic realities and deeper values. Listen in youtube.com/watch?v=ZmcnH7… Of course, you can also find us on Apple + Spotify
BlackRock CEO Larry Fink has reevaluated some of his earlier, critical statements about cryptocurrencies. "My thought process has evolved," he told @andrewrsorkin at the DealBook Summit. That's a pivot many people on Wall Street are making these days, embracing a technology they once rejected, @yaffebellany reports. nytimes.com/live/2025/12/0…
Poverty’s quiet truth: It’ll always be with us, in some shape or form. Always has, always will. It’s not a riddle we crack, it’s an evolving problem of varying shape and form. The brighter side? Human living standards have risen steadily, even as the poverty scale changes. What trips up so many discussions is the sense that progress is stalling when the reality is that there’s never been a better time to be born into human existence than this very instant.
Brilliant article by @profplum99 - I don’t think this could have been articulated anyway possibly better. yesigiveafig.com/p/part-1-my-li…
