The dominant mental model for the agentic economy is Coasean bargaining at scale, agents serving as tireless negotiators in order to reduce transaction costs to near-zero. Krier (DeepMind), Shahidi et al. (NBER), Rothschild et al. all assume coordination will emerge through prices + property rights executed at computational speed. New paper argues this gets the problem wrong at the level of substrate. When agents with world models interact, the coordination medium itself becomes endogenous to their behavior. The problem now lies in the reflexive entanglement that exists between competing state-transition projections that no market mechanism can resolve. I argue that the solution lies in constructing this environment: a world model of the multi-agent system itself.

biggest lesson over the past year

Time will tell everything

There were no spoils of victory to be enjoyed, nothing but the molasses that would stain the cavities seeping into our mouths.

May thy knife chip and shatter

Mountains smoked… Oceans swarmed and churned Blackened Earth, you ride with me

"And so the born mathematician takes his place by the side of the great masters of the chisel and the brush; he and they alike strive to actualize the grand order of all things and to communicate it to the plainman who hears that order within himself but cannot possess it."