The Scaling Hypothesis Meets Its Bills
Compute economics and the end of easy gains
Jun 22, 2026 · 1 min read
Abstract
The scaling laws that guided a decade of AI progress remain empirically intact, yet the strategy they justified is hitting constraints the loss curves never priced: capital concentration, energy siting, and data exhaustion. This article separates what scaling laws actually claim from the business plans built on them, and maps where the leverage is moving now.
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