Claude Code distills ephemeral tokens into durable value.
- Claude Code distills ephemeral tokens into durable value.
- This is unlike chatbots.
- As a user, you pay a one-time cost to get a durable good.
- Tokens are an ephemeral good, but they can be used to create durable goods.
- The equilibrium states of durable good monopolies are well studied.
- This is the Coase Conjecture.
- The prices converge on zero margin.
- However, that might not apply here, because it assumes finite demand.