The Attention Economy Is a Malthusian Trap

Big tech companies now trade at one of the smallest premiums in history

Photo: Thomas Trutschel/Getty Images

On September 28, 2018, tech died.

That’s according to a widely circulated eulogy prepared by Vincent Deluard, a strategist at INTL FCStone, a financial-services company. “If technology is everywhere, the tech sector no longer exists,” he wrote. “If…

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