What happens when there are more agents than eyeballs browsing the internet? How will the economics of the internet be reinvented? @paraga t…

What happens when there are more agents than eyeballs browsing the internet? How will the economics of the internet be reinvented? @paraga thinks Shapley values may hold the answer. Parag built Twitter over a decade, eventually becoming CEO and selling the company to Elon. He's spent the last three years building @p0, a search engine built for agents instead of humans. His core argument: 1) human click data is a bug. Agents aren't just a new technology, they're a distinct customer – and the feedback loop that made Google great is the wrong signal for the thing actually doing the work; 2) the ad-funded web assumed scarce human attention. If agents show up instead of eyeballs, the business model underneath the internet has to be rebuilt, or good content stops being published. The conversation covers: — why he shipped a search agent before a search engine, and how that let him grow the index incrementally instead of buying a full web crawl up front — the billion-to-billion matching problem: pull the right 1,000 tokens out of a trillion web pages, and your agent uses under half the tokens — going from a 3-second compute budget to 200 milliseconds — why he doesn't think Parallel is a neo-lab: "our output is a complement to a model" — the Google Cloud deal — on GCP, your grounding options are now Google Search or Parallel Search — reinventing the economics of the internet, Shapley values as a payment rail for publishers, and why the company was originally incorporated as Shapley Inc — why routing 2-10% of inference spend to web data would dwarf every content business outside the walled gardens — the web going from pull to push: "call me if this happens" 00:00 Introduction 03:25 What Is Web Search 05:17 Why Start a New Index 07:52 Search Agents First 10:17 Not a Neolab 13:14 Agents vs Google Search 19:38 Inside the Search Stack 28:59 Search Multipliers With Agents 30:21 Meeting Prep Agent Workflows 31:46 Quality Cost Latency And Turbo 32:42 Are Agents Overtaking Humans 34:28 Ads Model Meets Agent Web 37:20 New Incentives For Content 40:48 Shapley Values Attribution 47:46 Parallel Web And Future Vision Hosted with my very unwilling co-host @andrew__reed and @sequoia Media

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Source: Sonya Huang (X) | 2026-08-26