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If the monopoly —> duopoly —> oligopoly —> commodity cycle can happen in the m…

x/Jul 10/transcript

Chamath's macro thesis — AI accelerates the monopoly-to-commodity cycle, making "long-term" cash flows worth less — routes cleanest as short ServiceNow (NOW), the canonical high-multiple SaaS priced on durable long-duration moat assumptions.

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AI accelerates monopoly-to-commodity cycle in tech, destroying the long-duration cash flow premium baked into high-multiple SaaS.

If the monopoly —> duopoly —> oligopoly —> commodity cycle can happen in the most advanced areas of technology, in part accelerated by AI, what is the true value of "long term" cash flows?

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