Steve Yelderman
217 posts
Steve Yelderman
@syelderman
Rewiring Wall Street with Ethereum as General Counsel @etherealize_io. Previously at @Coinbase & DOJ, Law Professor @Ndlaw.
This is counterintuitive for some, which is why there’s a paradox named after it. But if you lower the cost of something that was previously supply constrained, demand for that thing goes up. Software engineering is just one of the easiest examples to contemplate. The process goes like this: every small business, every IT team, every large enterprise sees that engineering can now drive vastly more output. They then start to consider all the new things they can build or automate. They even test building prototypes themselves. They only get so far with that approach because they realize there are still 50 other tasks that go into building software and maintaining it. So they start to hire more engineers to do that work. All of this for work they never would have considered automating or having software for if AI didn’t exist. So yes, automating tasks, in plenty of fields, will lead to demand for experts, not less.
@claudeai 34/ Runaway Risk Zone—cheap to automate, but unaffordable to verify. This is where the structural danger lives. And as the Measurability Gap widens, more of the economy migrates here.
@claudeai 29/ This is Goodhart's Law with teeth—optimization treating every unmeasured dimension as an unconstrained degree of freedom.
21/ Verification is the ultimate complement to abundant intelligence—and it is structurally scarce. In the agentic economy, durable advantage belongs not to those who generate output but to those who can certify it.
1/ Some Simple Economics of AGI—🔥🧵 Right now, there is a low-grade panic running through the economy. Everyone is asking the same anxious question: what exactly is AI going to automate, and what will be left for us?
Our prediction markets went fully live in the U.S. at the perfect time, just before the big game this weekend! Now you can trade the outcome in all 50 states on Coinbase.