AGNT: The Orchestration Economics Manifesto

An investment framework for the Agentic Era.

Today, I am publishing AGNT: The Orchestration Economics Manifesto, a framework for what is becoming the largest value dislocation within the S&P 500 in modern memory.

For three years, I have been writing about a fault line forming beneath the software economy.

At first, the signals arrived as separate events: a model crossing a capability threshold, a cost curve breaking open, a defensible business becoming structurally exposed in a single quarter. The instinct was to read each shock locally. But the pattern was never local. The shocks were expressions of the same pressure moving through the same boundary.

That boundary is what this Manifesto is about.

The transition into the Agentic Era is not a faster version of the software cycle we already know how to analyze. It is a discontinuity, a break in the operative logic by which work is organized, coordination is conducted, and economic power becomes durable. Disruption rearranges positions inside an existing order. A discontinuity alters t…