The Scaling Hypothesis Meets Its Bills
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.
Tomás Aguiar and Daniel Okafor · Jun 22, 2026 · 1 min read