The Conglomerate Premium: the Coasean Singularity is fake — AI makes firms big

sdand · x · 2026-09-06

A shared longform essay, "The Conglomerate Premium," pushes back against the popular thesis that AI dissolves large firms into one-person companies. It argues AI instead makes firms bigger, citing Google outbidding Mercor last week to acquire a complete operational dataset from Spirit as evidence of conglomerate advantages in the AI era.

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