Interesting to think about all the implications in a world where agents begin to make the best or most efficient choice for their users. On one hand, there is some subset of the economy that benefits from the friction customers traditionally have changing something about their habits. In those parts of the market, switching costs will come down and competition is going to increase dramatically until some equilibrium is reached between the disruptive alternatives and the incumbents. On the…

JasonYanowitz@JasonYanowitz19h ago

Fascinating. Chief Economist at Apollo: agents could cause a bank run by sweeping household cash into accounts paying 3-5% instead of the 0.1% national average, causing banks to lose a large share of their cheap deposits. https://t.co/h9jo4cSXcB