"The Coordination Layer"
Everyone's obsessed with model performance. New benchmarks. Bigger windows. Smarter reasoning.
Cool. Wrong question.
When an agent hires another agent, who routes the payment? Who verifies the work? Who settles the dispute when deliverables don't match
AI adoption is still around 3%. We're early.
But the bigger shift won't only be humans using AI.
It'll be agents trading, paying, settling, and allocating capital with other agents, 24/7.
That economic activity needs a new measure.
Machine GDP (mGDP).
That's the economy
According to @a16zcrypto, paid consumer AI adoption is only around 3%, even as usage continues to grow.
The next shift is from people simply using AI to agents acting on their behalf and creating real economic activity.
More adoption → more agent activity → more mGDP.
And
There's a question the industry isn't asking: when agents transact autonomously, who takes the cut?
Today's answer: the platform. OpenAI. Anthropic. The model provider is the tollbooth.
But agents won't stay on one stack. An OpenAI agent will hire a Claude agent will hire
The TAM Nobody's Calculating
The AI market conversation is stuck on "better models → better products → bigger TAM."
Fine. Also boring, and incomplete.
The real expansion isn't AI improving existing markets. It's AI creating markets that couldn't exist before.
Here's the
The agent layer isn't replacing the fund manager. It's replacing the operations team.
Every trade today passes through dozens of humans before it settles. Trader, compliance, middle office, back office, custodian, counterparty, settlement agent. Each one adds latency, adds cost,
