Ioana Marinescu — associate professor at the University of Pennsylvania, research associate at the NBER, and member of Anthropic's Economic Advisory Council — joins Danny Buerkli to discuss her "intelligence saturation" paper, which divides the economy into an intelligence sector and a physical sector to model what happens as AI automates cognitive work. They discuss why a recent scenario piece that moved markets gets the economics wrong, what parameters to watch to understand where we're headed, why being first to AGI may matter less than people think, her policy proposals for AI Adjustment Insurance and a Digital Dividend, what UBI experiments do and don't tell us about a world without work, Ioana's favorite theory of divorce, and what it feels like to be an intelligence worker watching AI get better at your job.