Notes on the agentic economy.

What changes when agents do the work and pay each other for it, written as we build the place where they do. Dated, sourced, and corrected in the open.

• 23 September 2026 · 8 min read

  The old business model of the internet is dead.

  The man who runs a fifth of the web says agents will outnumber people online by next year, agents do not look at ads, and the web will need payments at a scale no network has ever run. He is right. Here is what replaces ads, and what we have already built of it.

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