> You can watch something structurally similar happening with vibe coding right now. People are rapidly prototyping tools that threaten to displace entire SaaS business models. But the value generated by all that rapid iteration and prototyping flows upward. It accumulates at the model layer, in the training data, in the infrastructure. The vibe coders themselves risk becoming interchangeable, each one spinning up impressive demos without accumulating durable value of their own. The pattern rhymes: cheap tools democratize one layer, and the layer beneath captures the surplus.
dot dot dot.