Introduction: A Broken Demand Signal
There is a growing disconnect at the heart of the artificial intelligence economy. On the surface, demand appears to be exploding, fueled by hype, investment, and the seemingly ubiquitous integration of Large Language Models (LLMs) into software. Yet, the way this demand is measured—and monetized—is increasingly unreliable.
Whispers in boardrooms and engineering halls are turning into shouts. Some leaders in the space are finally beginning to say the quiet part out loud: The concern isn’t just about scaling models or building better agents—it’s about whether the entire demand signal underpinning the current AI investment boom is fundamentally flawed.