francois

The limiting factor for AI automation of the economy is expert data and RL environments, not model architecture, GPUs, or power — as evidenced by models failing at tasks like financial prediction due to lack of expert traces.

Horizontal model providers (OpenAI, Anthropic, Google) cannot economically build deep expert networks for every profession (HIPAA compliance, legal precedent, trading strategies), creating durable opportunities for specialized data companies that own the expert RL environments and preference data for high-value verticals.