“To promote open inquiry and free, market-based technological progress, you need an open society, not one founded on the enemy principle. The understandable desire to escape criticism, misunderstanding, and the frustrations of ordinary politics does not entail the radical remaking of the global geoeconomic order to confound the New York Times and its allies. The cult of progress and the technocapital singularity are Hayek’s “religion of the engineers” with the valences reversed—so that markets and AI rather than the state become the objects of worship. Over the last few years, Silicon Valley thinking has gotten drunk on its own business model, in a feedback loop in which wild premises feed into wilder assertions and then back. It’s time to sober up.”

Some critics of Silicon Valley might find the piece not critical enough, but it is not written for them. The intuition behind it, correct or incorrect, is that a better Silicon Valley right is possible – and a piece explaining why in an uncompromising but not completely inimical way, written for a journal like American Affairs, is more likely to push a few people in this direction than a jeremiad. Two minor corrections. One error crept in through editing – the Dread Pirate Roberts’ efforts to hire hitmen were not what led to the Silk Road’s demise. The other was present from the beginning – “Balaji”’s surname is Srinivasan, not Srinavasan. And if you want more on the “technocapital singularity,” this piece for the Economist and this, right here on this Substack might be helpful. You’ll find little enough in the American Affairs piece, which mostly focuses on the politics of business models.

Enough – read the article!