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Among the right, a new kind of reactionary self-help is ascendant. Its mainstream version is legible in the manosphere misogyny of Jordan Peterson, Joe Rogan, and Andrew Tate, while more eldritch currents lurk just beneath the surface. The Nietzscheanism of internet personalities like Bronze Age Pervert—who combines ethnonationalist chauvinism in politics and personal life with a Greco-Roman obsession with physical fitness—is only one of many examples of the trend the social critic Maya Vinokour has called “lifestyle fascism.”

We might call this turbocharged version of authenticity culture “therapeutic libertarianism”: the belief that self-improvement is the ultimate goal of life, and that no formal or informal constraints—whether imposed by states, faith systems, or other people—should impede each of us from achieving personal growth

This attitude is therapeutic because it is invariably couched in self-help babble. And it is libertarian not only because it makes a cult out of personal freedom, but because it applies market logic to human beings. We are all our own start-ups. We must all adopt a pro-growth mindset for our personhood and deregulate our desires.

We must all assess and reassess our own “fulfillment,” a kind of psychological Gross Domestic Product, on a near-constant basis. And like the GDP, our fulfillment must always increase.

On the left, what gets termed “wokeness” is indissociable from self-help. How should we understand superficial, performative expressions of “anti-racism” or preening social-media politics if not as a way for self-described good-hearted liberals to make grand public displays of pruning their moral shrubbery?

Stewart’s response to the UTIs is not concern for his wife but irritation: “This guy is breaking all my toys,” he grumbles. When she gets upset that her husband keeps calling her a “cunt” and a “whore” during sex—something he professes not being able to help—Stewart does not change this habit. Instead they strike a preposterous bargain: “He will try his best not to scream cunt during sex, and I will do my best to ignore him if he does.”

What the author is trying to find in her open relationship is not sex, but self-understanding—what it means, how we get it, whether sex can provide it. And although the answers Molly arrives at are not cheaply won, they are cheap all the same.

Near the end of the memoir, the author’s mother provides the empty epiphany toward which the text careens. “Everything that happens in life,” her mom offers, “is an opportunity to learn about yourself. Marriage. Motherhood. Relationships. Even anger and illness. Nothing that happens is good or bad in and of itself. It’s all just an opportunity to learn and grow.” With this maternal revelation, Molly’s “skin starts to tingle.” She relates that the advice “feels almost holy.”

though Molly may tell herself and her readers that she is on a journey of learning and growth, the ugly truth is that More feels like a 290-page cry for help. Molly does not come off as a woman boldly finding herself, but rather as someone who is vulnerable to psychological manipulation and does not enjoy her open marriage.

if it seems like Molly Roden Winter does not want to be in an open marriage, it is because she often lets us know that she doesn’t want to be in an open marriage.

When a couples therapist asks the pair why they’re in counseling halfway through the book—prompted by a breakdown Molly experiences that stems from their marital arrangement—she explains: “We’re here because I don’t want to be in an open marriage anymore, but Stewart does.”

There are precious few sex scenes where Molly seems to be enjoying herself. When Molly is in the middle of a squirmy threesome she’s been dreading, she literally dissociates from her body, pretending that she is a director staging a scene in which her physical person is merely an actor. Molly describes how she performs her role with “a clinician’s detachment” and leaves the apartment rapidly so as not “to be pulled back into this scene.” After one of her dates repeatedly removes his condom without her consent—an act known as “stealthing,” which is considered a sex crime in a number of countries and the state of California—she contracts a series of urinary tract infections

his concept doesn’t quite capture the extent to which this relentless quest for self-optimizing authenticity has infused our social and even political sensibilities.

Winter is trapped in her therapeutic worldview, one imposed on her by an American culture that has made narcissism into not simply a virtue, but a quasi-religion that turns external obstacles into opportunities for internal self-improvement.

These obstacles include, in her case, profound gender inequality relating to Molly’s life as a parent to two sons, and a troubling family history. Molly’s mother joined a cult—and indoctrinated the author into it as a child—at the urging of a male partner in her own open marriage. The book makes tacit comparisons between Molly’s mother’s initiation into a cult at the behest of an extramarital partner, and Molly’s own initiation into an open marriage at the behest of her husband.

throughout More, the dominant emotion Molly reports is not lust but rage—primarily at the deeply unequal child-care burdens that are placed upon her. “I think about all the years I’ve spent my night alone with the kids—the dinners, the bedtimes, the dishes, the loneliness of doing it all by myself—because Stew had to work,” she laments at one point. That Stewart is now spending late nights not working (if he ever was) but rather schtupping his endless reserve of mistresses pushes Molly further to the brink: “I feel my jealousy mingle with the resentment I’ve kept at bay for years,”

Molly doubles down on her quest for self-actualization through the relentless pursuit of bitter novelty: new sexual experiences that she rarely seems to enjoy, new partners who rarely treat her kindly.

The only solution Molly can imagine is to persist in an open marriage, rather than push for an equal one. Inward sexual revolution plainly feels more possible than a revolution in who does the dishes.

a 2022 Reuters investigation found that some American clinics were quite aggressive with treatment: None of the 18 U.S. clinics that Reuters looked at performed long assessments on their patients, and some prescribed puberty blockers on the first visit.

As Cass writes in her report, “The toxicity of the debate is exceptional.” She continues, “There are few other areas of health care where professionals are so afraid to openly discuss their views, where people are vilified on social media and where name-calling echoes the worst bullying behavior.”

The report’s greatest strength is its epistemic humility. Cass is continually asking, “What do we really know?” She is carefully examining the various studies — which are high quality, which are not. She is down in the academic weeds.

he notes that the quality of the research in this field is poor. The current treatments are “built on shaky foundations,” she writes in The BMJ. Practitioners have raced ahead with therapies when we don’t know what the effects will be. As Cass tells The BMJ, “I can’t think of another area of pediatric care where we give young people a potentially irreversible treatment and have no idea what happens to them in adulthood.”

her core conclusion is this: “For most young people, a medical pathway will not be the best way to manage their gender-related distress.” She realizes that this conclusion will not please many of the young people she has come to know, but this is where the evidence has taken her.

In 1877 a British philosopher and mathematician named William Kingdon Clifford published an essay called “The Ethics of Belief.” In it he argued that if a shipowner ignored evidence that his craft had problems and sent the ship to sea having convinced himself it was safe, then of course we would blame him if the ship went down and all aboard were lost. To have a belief is to bear responsibility, and one thus has a moral responsibility to dig arduously into the evidence, avoid ideological thinking and take into account self-serving biases.

“It is wrong always, everywhere, and for anyone, to believe anything upon insufficient evidence,” Clifford wrote

A belief, he continued, is a public possession. If too many people believe things without evidence, “the danger to society is not merely that it should believe wrong things, though that is great enough; but that it should become credulous, and lose the habit of testing things and inquiring into them; for then it must sink back into savagery.”

Since the Trump years, this habit of not consulting the evidence has become the underlying crisis in so many realms. People segregate into intellectually cohesive teams, which are always dumber than intellectually diverse teams. Issues are settled by intimidation, not evidence

Our natural human tendency is to be too confident in our knowledge, too quick to ignore contrary evidence. But these days it has become acceptable to luxuriate in those epistemic shortcomings, not to struggle against them. See, for example, the modern Republican Party.

She writes in her report, “The option to provide masculinizing/feminizing hormones from age 16 is available, but the review would recommend extreme caution.

I’m standing before them not as an ambassador of certainty or a font of unassailable verities but as an emissary of doubt. I want to give them intelligent questions, not final answers. I want to teach them how much they have to learn — and how much they will always have to learn.

each component of it was about the same quality: humility.

The grammar-and-spelling bit was about surrendering to an established and easily understood way of doing things that eschewed wild individualism in favor of a common mode of communication. It showed respect for tradition, which is a force that binds us, a folding of the self into a greater whole

The voices bit — well, that’s obvious. It’s a reminder that we share the stages of our communities, our countries, our worlds, with many other actors and should conduct ourselves in a manner that recognizes this fact. A

I’d also been delivering that spiel for more than two years before I realized that humility is the antidote to grievance.

We live in an era defined and overwhelmed by grievance — by too many Americans’ obsession with how they’ve been wronged and their insistence on wallowing in ire

This anger reflects a pessimism that previous generations didn’t feel

They promote a self-obsession at odds with community, civility, comity and compromise. It’s a problem of humility.

They elevated how they viewed the world and what they wanted over tradition, institutional stability, law, order.

The Jan. 6 insurrectionists were delusional, frenzied, savage. But above all, they were unhumble. They decided that they held the truth, no matter all the evidence to the contrary.

anti-Trumps will be our salvation, and I say that not along partisan or ideological lines. I’m talking about character and how a society holds itself together.

It does that with concern for the common good, with respect for the institutions and procedures that protect that and with political leaders who ideally embody those traits or at least promote them.

He was fond of quoting Philippians 2:3, which he invoked as a lodestar for his administration. “Do nothing out of selfish ambition or vain conceit,” it says. “Rather, in humility value others above yourself.”

Governing, as opposed to demagoguery, is about earning others’ trust and cooperation. Exhibiting a willingness to listen to and to hear them goes a long way toward that.

“Insight and knowledge come from curiosity and humility,” Mr. Baker wrote in a 2022 book, “Results,” coauthored with his chief of staff, Steve Kadish, a Democrat. “Snap judgments — about people or ideas — are fueled by arrogance and conceit. They create blind spots and missed opportunities. Good ideas and interesting ways to accomplish goals in public life exist all over the place if you have the will, the curiosity, and the humility to find them.”

‘Yes, there’s demanding, but there’s also asking,’” he recalled. “And one is not the enemy of the other. People don’t like being accused, people don’t like being condemned, people don’t like being alienated. It’s a matter of conversation and persuasion.”

the message delivered by Loretta Ross, a longtime racial justice and human rights advocate, through her teaching, public speaking and writing. Troubled by the frequent targeting and pillorying of people on social media, she urged the practice of calling in rather than calling out those who’ve upset you. “Call-outs make people fearful of being targeted,” she wrote in a guest essay for Times Opinion. “People avoid meaningful conversations when hypervigilant perfectionists point out apparent mistakes, feeding the cannibalistic maw of the cancel culture.” Instead, she advised, engage them. If you believe they need enlightenment, try that route, “without the self-indulgence of drama,” she wrote.

She was also recognizing other people’s right to disagree — to live differently, to talk differently. Pluralism is as much about that as it is about a multiracial, multifaith, multigender splendor.

Tolerance shares DNA with respect. It recognizes that other people have rights and inherent value even when we disagree vehemently with them.

we mustn’t treat every wound, every obstacle, as some cosmic outrage or mortal danger. We mustn’t lose sight of the struggle, imperfection and randomness of life. We mustn’t overstate our vulnerability and exaggerate our due.

While grievance blows our concerns out of proportion, humility puts them in perspective. While grievance reduces the people with whom we disagree to caricature, humility acknowledges that they’re every bit as complex as we are — with as much of a stake in creating a more perfect union.

“We did things like bring over shrapnel from Ukraine, from cruise missiles that exploded in civilian areas, and put it on their desk and say, look, this is what we’re up against,” Murskyj said. “You know, this landed in somebody’s house, and now it’s in your office.”

“The intensity was high; there was energy in the air. And we realized that we needed to do everything that we possibly could to make this happen.” Murskyj said, adding that there were “dozens of organizations, and hundreds if not thousands of individuals, who worked hard” to get the legislation passed.

“I think the most effective thing [the Zelensky administration] did was, they listened, and then they gave the speaker space to work the issue,” said a person familiar with Johnson’s position, who spoke on the condition of anonymity because of the political sensitivity of the issue. “They took him at his word after that meeting with Zelensky in December.”

Johnson indicated early on that he would support the legislation if his main questions were addressed, those involved in the talks said. Over time, he became an ally.

“Up until that point, it had really been an aggressive pressure campaign,” the person said. “And really, from my view, it was having the opposite effect because it was just making the people who were ‘never Ukraine-ers’ say, ‘They’re just eviscerating you; they’re not interested in giving you space or what’s in America’s interests.’”

For Johnson, a Southern Baptist, arguments from fellow members of the evangelical community were particularly important, those involved in the process said. The speaker met numerous groups of religious leaders from the United States and Ukraine who pushed him to pass the aid bill.

American evangelicals helped dispel a narrative circulating in the conservative media that Ukraine was persecuting Christian communities, pointing out that it was in fact Russia that was restricting religious freedom.

“I could not have done it sooner,” he says. “I don’t think anybody could have done it sooner. Because I was the first one.” 

By the late 1960s, he was managing TI’s integrated-circuit division. Before long, he was running the entire semiconductor group. 

He transferred to the Massachusetts Institute of Technology, where he studied mechanical engineering, earned his master’s degree and would have stayed for his Ph.D. if he hadn’t failed the qualifying exam. Instead, he got his first job in semiconductors and moved to Texas Instruments in 1958

he came along as the integrated circuit was being invented, and his timing couldn’t have been any better, as Chang belonged to the first generation of semiconductor geeks. He developed a reputation as a tenacious manager who could wring every possible improvement out of production lines, which put his career on the fast track.

Chang grew up dreaming of being a writer—a novelist, maybe a journalist—and he planned to major in English literature at Harvard University. But after his freshman year, he decided that what he actually wanted was a good job

“They talk about life-work balance,” he says. “That’s a term I didn’t even know when I was their age. Work-life balance. When I was their age, if there was no work, there was no life.” 

These days, TSMC is investing $40 billion to build plants in Arizona, but the project has been stymied by delays, setbacks and labor shortages, and Chang told me that some of TSMC’s young employees in the U.S. have attitudes toward work that he struggles to understand. 

Chang says he wouldn’t have taken the risk of moving to Taiwan if he weren’t financially secure. In fact, he didn’t take that same risk the first time he could have.

“The closer the industry match,” they wrote, “the greater the success rate.” 

By then, Chang knew that he wasn’t long for Texas Instruments. But his stock options hadn’t vested, so he turned down the invitation to Taiwan. “I was not financially secure yet,” he says. “I was never after great wealth. I was only after financial security.” For this corporate executive in the middle of the 1980s, financial security equated to $200,000 a year. “After tax, of course,” he says. 

Chang’s situation had changed by the time Li called again three years later. He’d exercised a few million dollars of stock options and bought tax-exempt municipal bonds that paid enough for him to be financially secure by his living standards. Once he’d achieved that goal, he was ready to pursue another one. 

“There was no certainty at all that Taiwan would give me the chance to build a great semiconductor company, but the possibility existed, and it was the only possibility for me,” Chang says. “That’s why I went to Taiwan.” 

Not long ago, a team of economists investigated whether older entrepreneurs are more successful than younger ones. By scrutinizing Census Bureau records and freshly available Internal Revenue Service data, they were able to identify 2.7 million founders in the U.S. who started companies between 2007 and 2014. Then they looked at their ages.

The average age of those entrepreneurs at the founding of their companies was 41.9. For the fastest-growing companies, that number was 45. The economists also determined that 50-year-old founders were almost twice as likely to achieve major success as 30-year-old founders, while the founders with the lowest chance of success were the ones in their early 20s

“Successful entrepreneurs are middle-aged, not young,” they wrote in their 2020 paper.  

Silicon Valley’s venture capitalists throw money at talented young entrepreneurs in the hopes they will start the next trillion-dollar company. They have plentiful energy, insatiable ambition and the vision to peek around corners and see the future. What they don’t typically have are mortgages, family obligations and other adult responsibilities to distract them or diminish their appetite for risk. Chang himself says that younger people are more innovative when it comes to science and technical subjects. 

But in business, older is better. Entrepreneurs in their 40s and 50s may not have the exuberance to believe they will change the world, but they have the experience to know how they actually can. Some need years of specialized training before they can start a company. In biotechnology, for example, founders are more likely to be college professors than college dropouts. Others require the lessons and connections they accumulate over the course of their careers. 

one more finding from their study of U.S. companies that helps explain the success of a chip maker in Taiwan. It was that prior employment in the area of their startups—both the general sector and specific industry—predicted “a vastly higher probability” of success.

Chang was such a workaholic that he made sales calls on his honeymoon and had no patience for those who didn’t share his drive

Morris Chang had 30 years of experience in his industry when he decided to uproot his life and move to another continent. He knew more about semiconductors than just about anyone on earth—and certainly more than anyone in Taiwan. As soon as he started his job at the Industrial Technology Research Institute, Chang was summoned to K.T. Li’s office and given a second job. “He felt I should start a semiconductor company in Taiwan,”

“I decided right away that this could not be the kind of great company that I wanted to build at either Texas Instruments or General Instrument,”

TI handled every part of chip production, but what worked in Texas would not translate to Taiwan. The only way that he could build a great company in his new home was to make a new sort of company altogether, one with a business model that would exploit the country’s strengths and mitigate its many weaknesses.

Chang determined that Taiwan had precisely one strength in the chip supply chain. The research firm that he was now running had been experimenting with semiconductors for the previous 10 years. When he studied that decade of data, Chang was pleasantly surprised by Taiwan’s yields, the percentage of working chips on silicon wafers. They were almost twice as high in Taiwan as they were in the U.S., he said. 

“People were ingrained in thinking the secret sauce of a successful semiconductor company was in the wafer fab,” Campbell told me. “The transition to the fabless semiconductor model was actually pretty obvious when you thought about it. But it was so against the prevailing wisdom that many people didn’t think about it.” 

Taiwan’s government took a 48% stake, with the rest of the funding coming from the Dutch electronics giant Philips and Taiwan’s private sector, but Chang was the driving force behind the company. The insight to build TSMC around such an unconventional business model was born from his experience, contacts and expertise. He understood his industry deeply enough to disrupt it. 

“TSMC was a business-model innovation,” Chang says. “For innovations of that kind, I think people of a more advanced age are perhaps even more capable than people of a younger age.”

the personal philosophy that he’d developed over the course of his long career. “To be a partner to our customers,” he says. That founding principle from 1987 is the bedrock of the foundry business to this day, as TSMC says the key to its success has always been enabling the success of its customers.  

TSMC manufactures chips in iPhones, iPads and Mac computers for Apple, which manufactures a quarter of TSMC’s net revenue. Nvidia is often called a chip maker, which is curious, because it doesn’t make chips. TSMC does. 

Churning out identical copies of a single chip for an iPhone requires one TSMC fab to produce more than a quintillion transistors—that is, one million trillions—every few months. In a year, the entire semiconductor industry produces “more transistors than the combined quantity of all goods produced by all other companies, in all other industries, in all human history,” Miller writes. 

I asked how he thought about success when he moved to Taiwan. “The highest degree of success in 1985, according to me, was to build a great company. A lower degree of success was at least to do something that I liked to do and I wanted to do,” he says. “I happened to achieve the highest degree of success that I had in mind.” 

In his review, Bernanke compared the MPC’s forecasting record with six other central banks — in the Nordic countries, New Zealand, the United States and the eurozone — and found the Bank was particularly bad at understanding dynamics in the jobs market and had consistently forecast far higher unemployment, which had not materialised. Its other errors, on forecasting future inflation and growth, put it largely in the “middle of the pack” with its peers.

Since coming to power in 2019, Bukele has declared a still-to-be-rescinded state of exception, suspended the Salvadorean constitution, and locked up some 70,000 alleged gang members without due process.

Western critics, though, point to allegations that he has corrupted institutions by packing them with allies, not to mention, according to Amnesty International, “concealed and distorted public information, backed actions to undermine civic space, militarised public security, and used mass arrests and imprisonment as the sole strategies for counteracting violence in the country”.

yet, Bukele’s strongman tactics have made him wildly popular with Salvadoreans, who doubtless enjoy a reported 70% reduction in the country’s previously extremely high murder rate. They have also made Bukele a rock star for the online Right. This group, fond of complaining about spineless leaders, fraying Western law and order, and the bleeding-away of political agency into international institutions and NGOs, regards the spectacle of a strongman leader with good social media game as something like a fantasy made flesh.

Arguably, it’s as much his embrace of technology that accords Bukele the mantle of poster-boy for a futuristic Right. Whether in his extremely online presence, his (admittedly not completely successful) embrace of Bitcoin as legal tender, or the high-tech, recently rebuilt National Library, funded by Beijing and serving more as showcase for futuristic technologies than as reading-room

This trait also makes him a touchstone for the Right-wing movement that I predict will replace “conservatism” in the 21st century. This outlook owes more to the Italian Futurist Filippo Marinetti than conservatives of the G.K. Chesterton variety

is perhaps most visibly embodied in American technologists such as Elon Musk, Mark Andreessen or Peter Thiel. As a worldview, it is broadly pro-capitalist, enthusiastically pro-technology and unabashedly hierarchical, as well as sometimes also scornful of Christian-inflected concern for the weak.

We might call it, rudely, “space fascism”, though N.S. Lyons’s formulation “Right-wing progressivism” is probably more accurate. Among its adherents, high-tech authoritarianism is a feature, not a bug, and egalitarianism is for fools. Thinkers such as Curtis Yarvin propose an explicitly neo-monarchical model for governance; Thiel has declared that: “I no longer believe freedom and democracy are compatible.”

El Salvador is thus the most legible real-world instance of something like a Right-wing progressive programme in practice. And along with the tech enthusiasm and public-order toughness, the third distinctive feature of this programme can be gleaned: a desire not to end international migration, but to restrict it to elites.

For Right-wing progressives, polities are not necessarily premised on ethnic or cultural homogeneity — at least not for elites. Rather, this is a vision of statehood less based on affinity, history or even ethnicity, and more on a kind of opt-in, utility-maximisation model

As for those still wedded to the 20th-century idea that being Right-wing necessarily means ethnicity-based nationalism, they are likely to find this outlook bewildering.

Right-wing progressives generally accord greater political value to gifted, high-productivity foreigners than any slow-witted, unproductive coethnic: those within Right-wing progressive circles propose, and in some cases are already working on, opt-in startup cities and “network states” that would be, by definition, highly selective about membership.

As a worldview, it’s jarring to cultural conservatives, who generally value thick ties of shared history and affinity

Yet it’s still more heretical to egalitarian progressives, for whom making migration and belonging an elite privilege offends every premise of inclusion and social justice.

Right-wing progressives, by contrast, propose to learn from the immigration policies of polities such as Singapore and the Gulf states, and avert the political challenges posed by ethnic voting blocs by imposing tiered citizenship for low-skilled migrants, while courting the wealth and productivity of international elites

Bukele’s proposal suggests a pragmatic two-tier Right-wing progressive migration policy that courts rich, productive, geographically rootless international “Anywheres” of the kind long understood to have more affinity with one another than with less wealthy and more rooted “Somewheres” — but to do so while explicitly protecting cultural homogeneity on behalf of the less-mobile masses.

There are larger structural reasons for such pragmatism, not least that population growth is slowing or going into reverse across most of the planet.

At the same time, impelled by easier transportation, climate change, social-media promises of better lives elsewhere, and countless other reasons, people everywhere are on the move. As such, like a global game of musical chairs, a battle is now on for who ends up where, once the music stops — and on what terms.

How do you choose who is invited? And how do you keep unwanted demographics out? Within an egalitarian progressive framework, these are simply not questions that one may ask

Within the older, cultural conservative framework, meanwhile, all or most migration is viewed with suspicion.

The Right-wing progressive framework, by contrast, is upbeat about migration — provided it’s as discerning as possible, ideally granting rights only to elite incomers and filtering others aggressively by demographics, for example an assessment of the statistical likeliho

od of committing crime or making a net economic contribution.

In Britain, meanwhile, whatever happens to the Tories, I suspect we’ll see more of the Right-wing progressives. I find many of their policies unnerving, especially on the biotech side; but theirs is a political subculture with optimism and a story about the future, two traits that go a long way in politics.

For the first time since the first World Happiness Report was published in 2012, the United States fell out of the Top 20 and dropped to 23rd, pushed down by cratering attitudes of Americans under 30.

Americans have long been an unhappy bunch. They have never ranked in the Top 10 of the World Happiness Report, which is based on how respondents in different countries rate their own happiness.

cited the disruptions to life brought about by the coronavirus pandemic as a chief cause of mental health challenges among younger Americans.

The happiest young people are in Lithuania, while the unhappiest are in Afghanistan.

“I have never seen such an extreme change,” John Helliwell, an economist and a co-author of the report, said in an interview, referring to the drop in happiness among younger people. “This has all happened in the last 10 years, and it’s mainly in the English-language countries. There isn’t this drop in the world as a whole.”

Respondents were asked — among other prompts — to think of their life as a ladder and to rate it on a scale of one to 10, with 10 being the best possible life.

this was the first time that the consortium separated results by age, finding disparities in the views of younger and older Americans. Among the 143 countries surveyed, the United States ranked 10th for people 60 and older, but 62nd for people under 30.

Jade Song, a 27-year-old novelist, counted herself among those who had become increasingly unhappy in recent years.

“Many of the things that would have normally taken place for people, particularly high school young adults, did not take place,” he added. “And that is still occurring.”

“It’s mostly because as an adult you suddenly become aware of all the world news and you pay attention more to what you can control, and you realize that there is so little you can control,” Ms. Song, who was not part of the study, said in an interview. “Even if you’re going to protests or paying your rent and bills all on time, it’s so difficult, especially now, to break free from how you’re living your life when you realize how little impact your actions actually have on a broader level.”

There is a silver lining, though

In 2022, a Harvard University study showed that well-being among young adults in the United States had declined in the previous 20 years. Young people — those between the ages of 18 and 25 — reported the lowest levels of happiness compared with other age groups, as well as the poorest mental and physical health, sense of purpose, character, virtue, close social relationships and financial stability

Similar findings have emerged in Britain and Canada.

“One factor, which we’re all thinking about, is social media,” said Dr. Robert Waldinger, the director of the Harvard Study of Adult Development

“Because there’s been some research that shows that depending on how we use social media, it lowers well-being, it increases rates of depression and anxiety, particularly among young girls and women, teenage girls.”

In addition, Dr. Waldinger said, the negative feedback loop from news consumption has become a contributing factor.

“There’s also a lot of anxiety about the state of the world,” he said. “About climate change. About all of the polarization that we’re seeing.”

in some other countries, such as Croatia, Switzerland and Austria, the World Happiness Report shows that young people are becoming happier.

“Part of the problem is that we have this huge expectation of happiness in America,” said Eric Weiner, the author of “The Geography of Bliss,” and so we suffer partly from the unhappiness of not being happy and the expectation that we should be happy. And not every country in the world has that.”

“There’s an assumption that if you’re American, you’re wealthy and you’re high tech and you’re successful; you should be happy,” he said. “There’s a lot of data that shows that the greater your expectations, the less you’re happy.”

The expectations for young people like Ms. Song, the novelist, said have shifted.

“We have less to look forward to,” she said. “Because in the future, there’s going to be climate change that will affect the way we live. I think there’s less of a clear-cut trajectory for our life paths, because for so long, it was so easy just to know that you could go get married and have your 2.5 kids, and then pay for your house. But now that path is a lot more closed.”

“The literature is clear in practice — the effect that this had on socialization, pro-social behavior, if you will, and the ability for people to feel connected and have a community,”

“A, this angst is very local and, B, it’s very recent, which means, C, it’s not fundamental and going to last forever,” he said. “If it has been created that quickly, it could be removed that quickly.”

That’s because real people — and yes, even professional economists — tend to process the parallel rise of prices and wages in quite different ways.

In brief, researchers have found that we tend to internalize the gains due to inflation and externalize the losses. These different processes yield different emotional responses.

Let’s start with higher prices. Sticker shock hurts. Even as someone who closely studies the inflation statistics, I’m still often surprised by higher prices. They feel unfair. They undermine my spending power, and my sense of control and order.

younger folks — anyone under 60 — had never experienced sustained inflation rates greater than 5 percent in their adult lives. And I think this explains why they’re so angry about today’s inflation.

Even though wages tend to rise hand-in-hand with prices, we tell ourselves a different story, in which the wage rises we get have nothing to do with price rises that cause them.

But then my economist brain took over, and slowly it sunk in that my raise wasn’t a reward for hard work, but rather a cost-of-living adjustment

Internalizing the gain and externalizing the cost of inflation protects you from this deflating realization. But it also distorts your sense of reality.

The reason so many Americans feel that inflation is stealing their purchasing power is that they give themselves unearned credit for the offsetting wage rises that actually restore it.

in reality, higher prices are only the first act of the inflationary play. It’s a play that economists have seen before. In episode after episode, surges in prices have led to — or been preceded by — a proportional surge in wages.

While older Americans understood that the pain of inflation is transitory, younger folks aren’t so sure. Inflation is a lot scarier when you fear that today’s price rises will permanently undermine your ability to make ends meet.

Perhaps this explains why the recent moderate burst of inflation has created seemingly more anxiety than previous inflationary episodes.

More generally, being an economist makes me an optimist. Social media is awash with (false) claims that we’re in a “silent depression,” and those who want to make American great again are certain it was once so much better.

in reality, our economy this year is larger, more productive and will yield higher average incomes than in any prior year on record in American history

And because the United States is the world’s richest major economy, we can now say that we are almost certainly part of the richest large society in its richest year in the history of humanity.

The income of the average American will double approximately every 39 years. And so when my kids are my age, average income will be roughly double what it is today. Far from being fearful for my kids, I’m envious of the extraordinary riches their generation will enjoy.

Psychologists describe anxiety disorders as occurring when the panic you feel is out of proportion to the danger you face. By this definition, we’re in the midst of a macroeconomic anxiety attack.

Without giving specifics, it said AI tools have already begun to damage human dignity because the tools are sometimes designed to seize users’ attention without regard to morals or accuracy.

Unless AI is restrained, “in the worst-case scenario, democracy and social order could collapse, resulting in wars,” the manifesto said.

It said Japan should take measures immediately in response, including laws to protect elections and national security from abuse of generative AI.

The Biden administration is also stepping up oversight, invoking emergency federal powers last October to compel major AI companies to notify the government when developing systems that pose a serious risk to national security. The U.S., U.K. and Japan have each set up government-led AI safety institutes to help develop AI guidelines.

NTT and Yomiuri said their manifesto was motivated by concern over public discourse. The two companies are among Japan’s most influential in policy. The government still owns about one-third of NTT, formerly the state-controlled phone monopoly.

Yomiuri Shimbun, which has a morning circulation of about six million copies according to industry figures, is Japan’s most widely-read newspaper. Under the late Prime Minister Shinzo Abe and his successors, the newspaper’s conservative editorial line has been influential in pushing the ruling Liberal Democratic Party to expand military spending and deepen the nation’s alliance with the U.S.

The Yomiuri’s news pages and editorials frequently highlight concerns about artificial intelligence. An editorial in December, noting the rush of new AI products coming from U.S. tech companies, said “AI models could teach people how to make weapons or spread discriminatory ideas.” It cited risks from sophisticated fake videos purporting to show politicians speaking.

NTT is active in AI research, and its units offer generative AI products to business customers. In March, it started offering these customers a large-language model it calls “tsuzumi” which is akin to OpenAI’s ChatGPT but is designed to use less computing power and work better in Japanese-language contexts.

Indeed, in the face of these unpredictable rewards, Augustin and Arthur — the rats — persisted. Sometimes, they ignored the sugar even when it did arrive, Mr. Lignier said, and just kept pressing the button anyway.

To Mr. Lignier, the parallel is obvious. “Digital and social media companies use the same concept to keep the attention of the viewer as long as possible,”

Indeed, social media has been described as “a Skinner Box for the modern human,” doling out periodic, unpredictable rewards — a like, a follow, a promising romantic match — that keep us glued to our phones.

Maybe we would rather sit around and push whatever levers are in front of us — even those that might make us feel bad — than sit with ourselves in quiet contemplation.

there is a world of content out there that has not been watermarked, which is done by adding imperceptible information to a digital file so that its provenance can be traced. Once watermarking at creation becomes widespread, and people adapt to distrust content that is not watermarked, then everything produced before that point in time can be much more easily called into question.

countering them is much harder when the cost of creating near-perfect fakes has been radically reduced.

There are many examples of how economic and political powers manipulated the historical record to their own ends. Stalin purged disloyal comrades from history by executing them — and then altering photographic records to make it appear as if they never existed

Slovenia, upon becoming an independent country in 1992, “erased” over 18,000 people from the registry of residents — mainly members of the Roma minority and other ethnic non-Slovenes. In many cases, the government destroyed their physical records, leading to their loss of homes, pensions, and access to other services, according to a 2003 report by the Council of Europe Commissioner for Human Rights.

The infamous Protocols of the Elders of Zion, first published in a Russian newspaper in 1903, purported to be meeting minutes from a Jewish conspiracy to control the world. First discredited in August 1921, as a forgery plagiarized from multiple unrelated sources, the Protocols featured prominently in Nazi propaganda, and have long been used to justify antisemitic violence, including a citation in Article 32 of Hamas’s 1988 founding Covenant.

In 1924, the Zinoviev Letter, said to be a secret communiqué from the head of the Communist International in Moscow to the Communist Party of Great Britain to mobilize support for normalizing relations with the Soviet Union, was published by The Daily Mail four days before a general election. The resulting scandal may have cost Labour the election.

Decades later Operation Infektion — a Soviet disinformation campaign — used forged documents to spread the idea that the United States had invented H.I.V., the virus that causes AIDS, as a biological weapon.

As it becomes easier to generate historical disinformation, and as the sheer volume of digital fakes explodes, the opportunity will become available to reshape history, or at least to call our current understanding of it into question.

Fortunately, a path forward has been laid by the same companies that created the risk.

In indexing a large share of the world’s digital media to train their models, the A.I. companies have effectively created systems and databases that will soon contain all of humankind’s digitally recorded content, or at least a meaningful approximation of it.

They could start work today to record watermarked versions of these primary documents, which include newspaper archives and a wide range of other sources, so that subsequent forgeries are instantly detectable.

many of the intellectual property concerns around providing a searchable online archive do not apply to creating watermarked and time-stamped versions of documents, because those versions need not be made publicly available to serve their purpose. One can compare a claimed document to the recorded archive by using a mathematical transformation of the document known as a “hash,” the same technique the Global Internet Forum to Counter Terrorism, uses to help companies screen for known terrorist content.

creating verified records of historical documents can be valuable for the large A.I. companies. New research suggests that when A.I. models are trained on A.I.-generated data, their performance quickly degrades. Thus separating what is actually part of the historical record from newly created “facts” may be critical.

Preserving the past will also mean preserving the training data, the associated tools that operate on it and even the environment that the tools were run in.

Such a vellum will be a powerful tool. It can help companies to build better models, by enabling them to analyze what data to include to get the best content, and help regulators to audit bias and harmful content in the models

In other words, the Marshall Plan and the tech boom during the 1990s were products of their time and place. They wouldn’t necessarily have the desired effects in a modern context.

“A shifting global economy left many working Americans and their communities behind. A financial crisis shook the middle class. A pandemic exposed the fragility of our supply chains. A changing climate threatened lives and livelihoods. Russia’s invasion of Ukraine underscored the risks of overdependence.”

What was the solution? Instead of rampant globalization, Sullivan’s pitch was that a reenergized American economy made the country stronger. It was time to remake the Rust Belt into a Cobalt Corridor, to establish industries that led not only to blue-collar work but to azure-collared careers. If that was done right, a strengthened America could act more capably around the globe.

“This moment demands that we forge a new consensus. That’s why the United States, under President Biden, is pursuing a modern industrial and innovation strategy — both at home and with partners around the world,

Implicitly, Sullivan said the main assumptions undergirding America’s foreign and economic policy had been wrong for decades. China, and the Washington belief that liberalized markets would eventually lead to democracy within the halls of power in Beijing, was the most glaring example.

“By the time President Biden came into office, we had to contend with the reality that a large non-market economy had been integrated into the international economic order in a way that posed considerable challenges,” he said, citing China’s large-scale subsidization of multiple sectors that crushed America’s competitiveness across industries. Making matters worse, Sullivan continued, “economic integration didn’t stop China from expanding its military ambitions.” It also didn’t stop countries like Russia from invading their neighbors.

Standing in front of the esteemed audience, Sullivan was telling them he didn’t want to be caught flat-footed as the global economy reshaped around them. The U.S. government would be proactive, prepared and proud in search of an industrial strategy to undergird American power. Without saying the words, he was offering a plan to make America great again.

A self-proclaimed “A-Team” came together to move beyond the Trump era, but in some ways they embraced elements of it. Not the nativist demagoguery, but the need to return to fundamentals: a healthy middle class powered by a humming industrial base, a humility about what the U.S. military alone can accomplish, a solid cadre of allies, attention to the most existential threats and a refresh of the tenets that sustain American democracy.

“This strategy will take resolve — it will take a dedicated commitment to overcoming the barriers that have kept this country and our partners from building rapidly, efficiently, and fairly as we were able to do in the past,”

Du Bois’s quote, “Either the United States will destroy ignorance or ignorance will destroy the United States,” serves as a poignant reminder of the importance of education, understanding and open discourse in addressing societal challenges.

Don’t get me wrong; I don’t hold these beliefs and never buy fast fashion or a piece of plastic. I hold these beliefs whilst sometimes buying new clothes or out-of-season strawberries in a plastic container. It’s the justification I have a problem with. 

Because I see these arguments constantly. Why should *I* have to do XYZ if a large corporation is doing ABC? Why can’t *I* go on holiday when an insert celebrity is flying their private jet 10x a week? Why should *I* care about this thing when no one cares about this other thing?! 

I’ve become a staunch believer there are few excuses when it comes to actions which directly harm our planet. 

We live in a society where unless you’re very wealthy and VERY time-rich you cannot exist without impacting the planet. Let’s not kid ourselves into believing there is any other reason we live in this way. 

the real question we should be posing is what does giving this stuff up open up for us? How does living in this different way enrich and improve our lives and our wider community’s lives? 

You don’t overconsume because your life is hard and big corporations exist, you overconsume because you live in a society built in a way to funnel you into doing exactly that.1

I wrote ‘the narrative younger people are fed’ because whilst these things are true, I often feel they’re used as a way to keep us down, to keep us depressed and complacent so we don’t rebel.

I think these students believe these narratives to be true, doing so keeps them safe in their current way of living, and allows them to get through the day without as much mental turmoil. 

I’ve been there. I tried to do it all. I tried to be zero-waste-thrift-store-girly, but it drove me crazy. One person can’t live in a completely ‘sustainable’ way, without ever leaving a footprint on this planet, it’s impossible and will only leave you feeling extremely exhausted and extremely guilty. 

The truth is sometimes I buy new socks and plastic contact lenses. Sometimes I want to buy a nice bag and a new pair of shoes and fit in with the wider society and others in my age group. Yes, it plays directly into capitalism’s hands, yes, I am doing what the man wants me to do, I still feel guilty, and I still question all my life choices, but god damn, you gotta live. 

can you blame ‘em? With the narrative younger people are fed these days: you’ll never own a house; the job market is atrocious; good luck building any kind of safety net; another oil and gas line has been approved; one war is brewing and one has broken out; oh look! another recession.

Rather than saying we have to give things up to Save The Earth!, that we have to stop consuming to Live Sustainably!, we need to tell people why living in this alternative way is so rich, so nourishing, so plentiful, so beautiful. 

I’ve quoted before and will quote again from Donella Meadows: “People don’t need enormous cars; they need respect. They don’t need closets full of clothes; they need to feel attractive and they need excitement, variety and beauty. [...] People need identity, community, challenge, acknowledgement, love, joy. To try and fill these needs with material things is to set up an unquenchable appetite for false solutions to real and never-satisfied problems. The resulting psychological emptiness is one of the major forces behind the desire for material growth.”2

Our climate conversations–our climate education–cannot just focus on what we need to give up, instead it must focus on what we get to build and welcome into our lives when we’re not wasting our money, time, and energy on buying or not buying new clothes or plastic-wrapped food.

The majority of my friends growing up did not have hobbies, we found joy and community and connection in consumption. Yes, consuming less is an essential piece of the climate puzzle, but telling people they can no longer consume will not get us there, it will only be taking away many people’s only sense of joy and satisfaction in life. 

We will not empower people by telling them to Be More Sustainable!, we will empower people by inviting them to create a world that finds value and beauty and satisfaction in more human ways, without the dark tint capitalist society has clouded our view with. 

Those of us in the global north are some of the biggest individual contributors to climate change, if we all lived like the average American, we would need 5.1 Earths to sustain us all (sorry, we can’t fob it all off to corporations). 

But, in a way, we are often the ones who are most cut off from any possibility of reactivating older institutions, ones that know how to live in harmony with the environment and the local land and could guide us to a better future.

We’re so dependent on existing systems we don’t even notice they exist–until they break down. Just take away one piece of our modern lifestyles and we are suddenly unable to function. A power cut? No cooking, no heating, no warm showers, not even the ability to boil the kettle for a lukewarm bath.

A food supply chain issue? I don’t know a single person in my local area who grows any type of fruit or vegetables

we also see ourselves as the hero, we’re going to save the world with our unrealistic techno-fixes (that don’t yet exist). We have the self-important sense that if we just had the right technology we could fix all of the world’s problems and then everyone would be happy. 

Westerners are often cast as both the villain and the hero of climate change. We’re the villain because we’ve created so many of these problems with our unquenchable thirst to pillage, develop, and create more and more crap.

I don’t know how we can turn back the wheels of modernised helplessness, but whilst we figure this one out, we need to consider what we want to bring into the new world.

learning new skills for a new future is an act of resilience. Creating a community of individuals who can look after each other is an act of resilience. Building a better way of life for yourself–and those around you–is an act of resilience. 

I can’t yet name the plants I meet on my walks, nor can I name the bird calls I hear outside of my window, but I can learn how to feed my family with food grown in my community garden, support builders and creators using reclaimed materials, and connect with people who live a stone’s throw away from my front door

Anything we learn to do for ourselves–actions that can be taken out of the hands of large corporations in an act of helplessness–is a way of helping our Earth. This is my act of resilience. 

After Gamergate, many users migrated to 8chan, where anyone could post anything. Richard Spencer, the white supremacist who was the headline speaker at Unite the Right, was among many who found their people — frequently alienated, angry and lonely young men — online.

Steve Bannon, the former executive chairman of the website Breitbart and Trump’s former chief strategist, understood that you could “activate that army,” which is just what they did. These were people who, in the parlance of the community, had swallowed the “Matrix"-inspired “red pill” and seen “the truth.”

Maybe they believed that the system was rigged by Jews, or that racial equality would undermine the white race, or that Hillary Clinton led a cabal of pedophiles. But as the book painstakingly shows, these ideas then prompted such real-world actions as shooting up a pizza restaurant, or hacking into voting systems and stealing their software.

As Reeve describes it, an even more potent danger came from the black pill of nihilism. Taking that pill “allows you to justify any action: cruelty, intimidation, violence,” she writes. “If your actions cause more violence and chaos, that’s good, because it will help bring about an end to the corrupt regime.

It can, she argues, lead to Charlottesville, to massacres in Charleston and Pittsburgh and El Paso and Orlando. It can lead to a veneration for Putin. Or an exaltation of Trump.

That mass delusion, as insane as it may seem — that a deep state exists within the government, supported by celebrities and business leaders, operating a Satan-worshiping human-trafficking network — continues to infect minds both on the internet and in real life

What is A.I. even for?

“A.I. slop”: often uncanny, frequently misleading material, now flooding web browsers and social-media platforms like spam in old inboxes. Years deep into national hysteria over the threat of internet misinformation pushed on us by bad actors, we’ve sleepwalked into a new internet in which meaningless, nonfactual slop is casually mass-produced and force-fed to us by A.I.

It has already helped drive down the cost and drive up the performance of next-gen batteries and solar photovoltaic cells, whose performance can also be improved, even after the panels have been manufactured and installed on your roof, by as much as 25 percent

while the internet was never perfectly trustworthy, one epoch-defining breakthrough of Google was that it got us pretty close. Now the company’s chief executive acknowledges that hallucinations are “inherent” to the technology it has celebrated as a kind of successor for ranked-order search results, which are now often found far below not just the A.I. summary but a whole stack of “sponsored” results as well.

Where not long ago we used to find the very best results for Google searches, we can now find instead potentially plagiarized and often inaccurate paragraph summaries of answers to our queries

Machine learning may help make our electricity grid as much as 40 percent more efficient at delivering power as it is today, when many of its routing decisions are made by individual humans on the basis of experience and intuition

This month, KoBold Metals announced the largest discovery of new copper deposits in a decade — a green-energy gold mine, so to speak, delivered with the help of its own proprietary A.I., which integrated information about subatomic particles detected underground with century-old mining reports and radar imagery to make predictions about where minerals critical for the green transition might be found.

.I. is designing new proteins, rapidly accelerating drug discovery and speeding up clinical trials testing new medicines and therapies.

perhaps that a more optimistic perspective can be drawn by analogy to what economists call the “environmental Kuznets curve,” which suggests that, as nations develop, they tend to first pollute a lot more and then, over time, as they grow richer, they ultimately pollute less.

Even in describing regular old pollution, this framework has its shortcomings, especially because it treats as automatic eventual progress that has always required tooth-and-nail fights against some very stubborn bad actors

A.I. is generating an awful lot of genuine pollution, too — both Google and Microsoft, which each pledged in 2019 to reach zero emissions by 2030, have instead expanded their carbon footprints by nearly 50 percent in the interim.

The purpose of journalism is to get the story and tell the story.

Now the cavemen turn to the tribal elder. “What should we do?” “Short term, climb a tree if you see a wolf,” she says. “They don’t like fire and noise, so we should keep lit torches and scream. In the longer term, wolf packs are seen in the west, so we should go east to high ground.” That is the authentic sound of commentary, of editorials and columns. Advice, exhortation—they’re part of the news too. People will always want it, question it, disagree.

It is as if journalism is no longer about Get the Story but about Meeting People Where They Are and helping them navigate through a confusing world. But do you really think current editors know where people are? Do you think they know how to navigate? It all feels presumptuous.

The great news for journalism is there will always be a huge market for this. The need for news is built into human nature. Tech platforms change, portals change, but the need is forever.

The past two decades, accelerating over the past four years, newsrooms have increasingly become distracted from their main mission, confused about their purpose. Really, they’ve grown detached from their mission

the journalistic product now being offered has become something vaguer than it was, more boring, less swashbuckling, more labored, as if it’s written by frightened people. There’s an emphasis on giving the story “context,” but the story doesn’t feel alive and the context seems skewed

But even cavemen who eat bugs and wear hides are not always grim. Man wants not only to be informed but to be amused, entertained. He wants humor, wit, mischief, a visual tour of the latest cave paintings. Cave man want cooking app. And word games and reporting on the richest tribes: “Most Expensive Cave Dwelling Sells in Malibu.”

More disturbing, major stories go unreported because, the reader senses, they don’t relate to the personal obsessions of the editors and reporters, or to their political priors.

Facebook and social media can’t get the story. They can amplify it, give an opinion, comment. But they don’t have the resources and expertise; they don’t have trained investigative journalists and first-class experienced editors and a publisher willing to take a chance and spend the money. Social media has opinions, emotions, propaganda.

And the great thing for newspapers is if you get the story—if you are known to get the story, like the Washington Post in the Watergate years—you will be read.

In early 2023, Len Downie and Andrew Heyward, formerly executive editor of the Washington Post and president of CBS News, respectively, wrote a paper about how modern journalists see standards within their professions, and it seemed to me not only confused but a kind of capitulation. There had been a “generational shift” in journalism, and the many editors and reporters they interviewed think objectivity is more or less “outmoded,” a false standard created by the white male patriarchy.

What was really striking was there was no mention, not one, of the thrill of the chase, of getting the story—of journalism itself. It was all about the guck and mess, not the mission, and made them look like news bureaucrats, joyless grinds, self-infatuated bores.

They were obsessed with who’s in the newsroom when their readers are obsessed with what comes out of the newsroom.

current ways of encouraging diversity seem to yield a great sameness in terms of class and viewpoint, and in any case diversity is a mission within a mission, it isn’t the mission itself, which is: Get the story, tell the story.

“Please talk about money, everyone,” she said. “The more people are active in it, the better the results will be.”

AIs like ChatGPT rapidly got better in their early days, but what we’ve seen in the past 14-and-a-half months are only incremental gains, says Marcus. “The truth is, the core capabilities of these systems have either reached a plateau, or at least have slowed down in their improvement,” he adds.

the gaps between the performance of various AI models are closing. All of the best proprietary AI models are converging on about the same scores on tests of their abilities, and even free, open-source models, like those from Meta and Mistral, are catching up.

AI could become a commodity

A mature technology is one where everyone knows how to build it. Absent profound breakthroughs—which become exceedingly rare—no one has an edge in performance

companies look for efficiencies, and whoever is winning shifts from who is in the lead to who can cut costs to the bone. The last major technology this happened with was electric vehicles, and now it appears to be happening to AI.

the future for AI startups—like OpenAI and Anthropic—could be dim.

Microsoft and Google will be able to entice enough users to make their AI investments worthwhile, doing so will require spending vast amounts of money over a long period of time, leaving even the best-funded AI startups—with their comparatively paltry warchests—unable to compete.

Many other AI startups, even well-funded ones, are apparently in talks to sell themselves.

That difference is alarming, but what really matters to the long-term health of the industry is how much it costs to run AIs. 

the bottom line is that for a popular service that relies on generative AI, the costs of running it far exceed the already eye-watering cost of training it.

Changing people’s mindsets and habits will be among the biggest barriers to swift adoption of AI. That is a remarkably consistent pattern across the rollout of all new technologies.

That’s because AI has to think anew every single time something is asked of it, and the resources that AI uses when it generates an answer are far larger than what it takes to, say, return a conventional search result

For an almost entirely ad-supported company like Google, which is now offering AI-generated summaries across billions of search results, analysts believe delivering AI answers on those searches will eat into the company’s margins

Google, Microsoft and others said their revenue from cloud services went up, which they attributed in part to those services powering other company’s AIs. But sustaining that revenue depends on other companies and startups getting enough value out of AI to justify continuing to fork over billions of dollars to train and run those systems

three in four white-collar workers now use AI at work. Another survey, from corporate expense-management and tracking company Ramp, shows about a third of companies pay for at least one AI tool, up from 21% a year ago.

OpenAI doesn’t disclose its annual revenue, but the Financial Times reported in December that it was at least $2 billion, and that the company thought it could double that amount by 2025. 

That is still a far cry from the revenue needed to justify OpenAI’s now nearly $90 billion valuation

the company excels at generating interest and attention, but it’s unclear how many of those users will stick around. 

AI isn’t nearly the productivity booster it has been touted as

While these systems can help some people do their jobs, they can’t actually replace them. This means they are unlikely to help companies save on payroll. He compares it to the way that self-driving trucks have been slow to arrive, in part because it turns out that driving a truck is just one part of a truck driver’s job.

Add in the myriad challenges of using AI at work. For example, AIs still make up fake information,

getting the most out of open-ended chatbots isn’t intuitive, and workers will need significant training and time to adjust.

the industry spent $50 billion on chips from Nvidia to train AI in 2023, but brought in only $3 billion in revenue.

None of this is to say that today’s AI won’t, in the long run, transform all sorts of jobs and industries. The problem is that the current level of investment—in startups and by big companies—seems to be predicated on the idea that AI is going to get so much better, so fast, and be adopted so quickly that its impact on our lives and the economy is hard to comprehend. 

Mounting evidence suggests that won’t be the case.