
Howe’s Ledger is where I push myself to think and write more clearly about AI, markets, infrastructure, and how technology turns into business value.
| Platform | Pricing | Only free issues | Publishes | Weekly | |
|---|---|---|---|---|---|
| Issues | 67 | Founded | 3 years ago | Last Issue | 2 months ago |
| Active | |||||

When an AI model knows something, where does that knowledge sit, and who pays to keep it there?
The industry has several places to put memory. Knowledge can live in the context window, a compressed internal state, a learned model of the wo...
Nearly every vertical AI company I’ve worked with sells some version of the same story: users create data, the data improves the model, the better model attracts more usage, and the company eventually becomes uncatchable. The pitch appears...
Claude is in Excel now. OpenAI has Operator. Google is shipping computer-use models. At Davos, Anthropic CEO Dario Amodei argued that AI could do “most, maybe all” of what software engineers do within 6 to 12 months. By now, the demos and p...
Last month, I argued that AI can still be early in adoption even if the trade is already mature. Readers kept asking the same question: if the technology works, adoption rises, and the earnings are real, what causes the market to turn?
Bub...
Nvidia just reported another quarter that, on paper, delivered everything the AI story has promised for two years. The stock popped on the headline and then bled lower. At the same time, the outer ring of AI proxies was getting taken apart....
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The writers behind this newsletter.
Notes on AI, markets, infrastructure, and how technology becomes business.
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