Episode 2227: Why the Economics of our AI Age might be unlike all previous Tech Revolutions

The conventional way of thinking about digital technology revolutions is akin to thinking about how to build a house. First we build the foundation, then we add the frame and finally the cosmetic furnishing. In tech, this is known as the “stack” - and traditionally, each chapter in the narrative involves different companies and technologies. So in the case of the Internet boom, for example, first there were tech plumbing companies like Cisco, then middleware companies, and finally consumer companies like Amazon that interface with customers. But, as Andrew and Keith Teare discuss in this week That Was the Week tech roundup, in the case of the AI revolution, the entire “stack” might be owned by a single company. So OpenAI or Anthropic threaten to quite literally control the construction of the entire house - from laying the foundations to painting the walls and laying the carpets of tomorrow’s AI world. As Keith and Andrew warn, the implications of this on the future of innovation in the digital economy are immense. In the age of AI, Big Tech threatens to be dramatically more monolith and powerful than ever. Even Keith, the eternal tech optimist, seems a little nervous about such a dramatic concentration of wealth and power.

Keith Teare is the founder and CEO of SignalRank Corporation. Previously, he was executive chairman at Accelerated Digital Ventures Ltd., a U.K.-based global investment company focused on startups at all stages. Teare studied at the University of Kent and is the author of “The Easy Net Book” and “Under Siege.” He writes regularly for TechCrunch and publishes the “That Was The Week” newsletter.

Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best known broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running How To Fix Democracy show. He is also the author of four prescient books about digital technology: CULT OF THE AMATEUR, DIGITAL VERTIGO, THE INTERNET IS NOT THE ANSWER and HOW TO FIX THE FUTURE. Andrew lives in San Francisco, is married to Cassandra Knight, Google's VP of Litigation & Discovery, and has two grown children.

Keen On is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe