The Coherence Premium (joanwestenberg.com)

transaction costs are collapsing. The activities that used to require organizations can increasingly be performed by individuals with the right tools.

Coherence is a differentiator and is difficult to scale. LLMs can accelerate towards coherence of fragmentation. The transaction costs that justify the formation of companies are disappearing. This was Nobel Prize worthy insight 90 years ago, and unimagined edges of the bell curve are coming into view.