Christian Catalini

A new paper, “Some Simple Economics of AGI,” is making the rounds—Web3 with a16z we sat down with author Christian Catalini (MIT Crypto Economics Lab) and Eddy Lazzarin (CTO of a16z crypto), in conversation with Robert Hackett, to unpack what AGI could mean for work and markets. EPISODE NOTES:  A hot paper — "Some Simple Economics of AGI" — has been making the rounds, so we sat down with the author, covering:  Automation vs. verification: the key economic split  Why AI agents now feel like coworkers - What's happening to junior roles and the “codifier’s curse”  The “AI sandwich” structure for firms  The value of "meaning-makers," consensus, and status economies  Why crypto may become essential infrastructure for identity, provenance, and trust  Two possible futures: a hollow vs. augmented economy  Featuring Christian Catalini (founder of MIT Crypto Economics Lab) and Eddy Lazzarin (CTO of a16z crypto) in conversation with Robert Hackett, our discussion dives deep into how automation is reshaping labor markets, as well as the nature of intelligence.  What do these changes mean for startups, the future of work, and your career?     Stay Updated:Find a16z on YouTube: YouTubeFind a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Christian Catalini, economist and MIT Crypto Economics Lab founder, explores AGI economics and verification. Eddy Lazzarin, CTO-level technologist, discusses practical agent deployment and tooling. They discuss agents as coworkers, the automation versus verification split, the AI sandwich firm structure, crypto for identity and provenance, and the contrast between a hollow and an augmented economy.

MIT economist Christian Catalini joins Ryan and David to unpack his new paper, "Some Simple Economics of AGI," which argues that the scarce resource in the AI economy is no longer intelligence but verification: the human capacity to check, judge, and certify that AI output is correct. Christian walks through the two cost curves reshaping every industry (cost to automate vs. cost to verify), explains why entry-level jobs are collapsing first through what he calls the "missing junior loop," why even top experts are unknowingly training their replacements (the "codifier's curse"), and maps out the three roles that survive the transition: Directors, Meaning Makers, and Liability Underwriters.---📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔮POLYMARKET | #1 PREDICTION MARKEThttps://bankless.cc/polymarket-podcast🪐GALAXY | INSTITUTIONAL DIGITAL FINANCEhttps://bankless.cc/galaxy-podcast🏅BITGET TRADFI | TRADE GOLD WITH USDThttps://bankless.cc/bitget🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless🐇MEGAETH | 1ST REAL-TIME BLOCKCHAINhttps://bankless.cc/megaeth---TIMESTAMPS0:00 Intro3:42 The Low-Grade Panic6:43 Who Gets Hit First, and Hardest?13:06 Coding as Canary, or Exception?16:21 Human Cognition Was the Binding Constraint19:59 What Is Verification, Exactly?29:10 The Codifier's Curse31:21 The Expanding Iceberg: Non-Measurable Work38:32 The Two Racing Cost Curves41:59 Trojan Horse Externality48:46 The Four Quadrants: Where Do You Want to Be?54:12 Liability Underwriters and the Venture Capital Parallel55:41 Directors: Navigating Unknown Unknowns59:49 60-80% of Your Job Can Be Displaced1:06:24 Button Pushers vs. Founders: The Great Resorting1:12:08 The Luddite Risk: Political Backlash Against AI1:17:30 What Companies and Investors Should Do1:22:56 The Crypto Connection1:25:11 Don't Panic: A Closing Playbook---RESOURCESChristian Catalinihttps://x.com/ccataliniSome Simple Economics of AGIhttps://arxiv.org/html/2602.20946v2Christian’s thread on his paperhttps://x.com/ccatalini/status/2026311784421036223---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures