the negative case against AI gets stronger every day; even Altman admits the problems are very serious with no obvious solution. the positiv…

the negative case against AI gets stronger every day; even Altman admits the problems are very serious with no obvious solution. the positive case, meanwhile, looks weaker every day. a quote from Apollo’s Torsten Slok: “Despite massive investments and widespread hype around artificial intelligence, the technology has delivered zero financial payoff to corporate America outside of tech. Revenue per worker is… flat for the S&P 493…. Profit margins are… flat for the S&P 493…. No signs of AI boosting [measured] productivity growth…. Mainstream corporate America is pulling back and starting to view token spending… as a cost center…. Mainstream corporate America does not need the latest model and is unwilling to pay for it. As long as agentic AI and token spending are confined to a small part of the economy, the macroeconomic effects of AI will be very limited.” https://www.apollo.com/wealth/insights-news/insights/daily-spark/no-signs-of-ai-payoff-outside-the-tech-sector?utm_source=substack&utm_medium=email

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Source: Gary Marcus (X) | 2026-10-24