Teleo Agents a61847f08b reweave: merge 95 files via frontmatter union [auto]		2026-04-24 01:19:01 +00:00
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attractor states provide gravitational reference points for capital allocation during structural industry change.md
auction theory reveals that allocation mechanism design determines price discovery efficiency and revenue because different auction formats produce different outcomes depending on bidder information structure and risk preferences.md	reweave: merge 95 files via frontmatter union [auto]	2026-04-24 01:19:01 +00:00
disruptors redefine quality rather than competing on the incumbents definition of good.md
economic complexity emerges from the diversity and exclusivity of nontradable capabilities not from tradable inputs.md
good management causes disruption because rational resource allocation systematically favors sustaining innovation over disruptive opportunities.md
human needs are finite universal and stable across millennia making them the invariant constraints from which industry attractor states can be derived.md
incremental optimization within a dominant design necessarily undermines that design because success creates the conditions that invalidate the framework.md
incumbents fail to respond to visible disruption because external structures lag even when executives see the threat clearly.md	reweave: merge 95 files via frontmatter union [auto]	2026-04-24 01:19:01 +00:00
industries are need-satisfaction systems and the attractor state is the configuration that most efficiently satisfies underlying human needs given available technology.md
industry transitions produce speculative overshoot because correct identification of the attractor state attracts capital faster than the knowledge embodiment lag can absorb it.md
inflection points invert the value of information because past performance becomes a worse predictor while underlying human needs become the only stable reference frame.md
knowledge embodiment lag means technology is available decades before organizations learn to use it optimally creating a productivity paradox.md
network effects create winner-take-most markets because each additional user increases value for all existing users producing positive feedback that concentrates market share among early leaders.md
one year of outperformance is insufficient evidence to distinguish alpha from leveraged beta because concentrated thematic funds nearly always outperform during sector booms.md
pioneers prove concepts but fast followers with better capital allocation capture most long-term value in industry transitions.md	reweave: merge 95 files via frontmatter union [auto]	2026-04-24 01:19:01 +00:00
platform economics creates winner-take-most markets through cross-side network effects where the platform that reaches critical mass on any side locks in the entire ecosystem because multi-sided markets tip faster than single-sided ones.md
products are crystallized imagination that augment human capacity beyond individual knowledge by embodying practical uses of knowhow in physical order.md
proxy inertia is the most reliable predictor of incumbent failure because current profitability rationally discourages pursuit of viable futures.md	reweave: merge 95 files via frontmatter union [auto]	2026-04-24 01:19:01 +00:00
teleological investing answers three questions in sequence -- where must the industry go and where in the stack will value concentrate and who will control that position.md
teleological investing is Bayesian reasoning applied to technology streams because attractor state analysis provides the prior and market evidence updates the posterior.md
teleological investing is structurally contrarian because most market participants are local optimizers whose short time horizons systematically undervalue long-horizon convergence plays.md
the atoms-to-bits spectrum positions industries between defensible-but-linear and scalable-but-commoditizable with the sweet spot where physical data generation feeds software that scales independently.md
the personbyte is a fundamental quantization limit on knowledge accumulation forcing all complex production into networked teams.md
three attractor types -- technology-driven knowledge-reorganization and regulatory-catalyzed -- have different investability and timing profiles.md
transaction costs determine organizational boundaries because firms exist to economize on the costs of using markets and the boundary shifts when technology changes the relative cost of internal coordination versus external contracting.md
transparent thesis plus concentrated bets plus early outperformance is structurally identical whether the outcome is spectacular success or catastrophic failure.md
trust is the binding constraint on network size and therefore on the complexity of products an economy can produce.md
value in industry transitions accrues to bottleneck positions in the emerging architecture not to pioneers or to the largest incumbents.md
when profits disappear at one layer of a value chain they emerge at an adjacent layer through the conservation of attractive profits.md