John Perry Barlow, JFK Jr., and an Evening of Indelible Sorrow

Watching the immensely popular television series Love Story took me back to a strange week from my history. One afternoon in April of 1994, while I was working in a studio apartment that I had converted into an office, I received some devastating news from my wife: Cynthia Horner, a psychiatrist companion and co-tenant at the office, had passed away just before reaching her 30th year. Cynthia had recently relocated to live with her boyfriend, John Perry Barlow, a songwriter and a friend of mine. Barlow informed me that Cynthia had unexpectedly died on a plane due to a virus that had previously affected her heart. I rushed over to Barlow’s home, where he, another friend, and I spent hours in mourning. That friend, well-acquainted with tragedy, was John F. Kennedy Jr.

Barlow, who died in 2018 at the age of 70, was recognized for his contributions as a lyricist for the Grateful Dead, an advocate for the internet, and a co-founder of the Electronic Frontier Foundation. He was also a prominent figure during the early days of WIRED and was one of JFK Jr.’s closest pals, a detail he frequently discussed openly.

Their friendship began in 1977 when Jackie Kennedy asked Barlow, who was managing his family ranch in Wyoming, to welcome her 17-year-old son, JFK Jr., to experience ranch life. Barlow accepted, introducing Kennedy to ranch tasks enhanced by LSD, which resulted in a deep friendship.

Their connection endured for years. Barlow recounts a Prince concert he attended with Kennedy, both influenced once again, which energised the entire Radio City Music Hall to dance. Later, Barlow and Cynthia went on double dates with Kennedy and his then-girlfriend, Daryl Hannah, who played a key role in organizing Cynthia’s memorial. In 1994, Kennedy began dating Carolyn Bessette. Barlow grew close to Bessette and attended their wedding in 1996.

In his autobiography, Barlow speculates about the tragic plane crash involving Kennedy, proposing that Kennedy postponed his flight to draft a condolence email after Barlow’s mother’s passing. Barlow expresses regret that Kennedy didn’t follow his previous advice: “When you lose sight of the horizon don’t look for it. Just put your eyes on the instrument and believe it.”

Wall Street Struggles with AI Hysteria

Wall Street Struggles with AI Hysteria

Before the prior week, very few were familiar with the name Alap Shah. The 45-year-old financial analyst and technology entrepreneur had been laboring quietly for two decades. Then, over the weekend, he co-authored a blog with the research company Citrini titled “The 2028 Global Intelligence Crisis.” It was a speculative article discussing the repercussions of artificial intelligence, predicting that by June in that year, AI would elevate unemployment beyond 10 percent and result in considerable market downturns. With a self-assured, prophetic style reminiscent of a Michael Lewis narrative, the authors depicted a negative feedback loop: AI agents displace jobs, consumer spending declines, and firms resort to perpetual layoffs.

Much of the content was familiar territory. Tech figures like Anthropic CEO Dario Amodei have already stated that half of the entry-level white-collar positions will disappear shortly, and Anthropic’s launch of new AI tools earlier this year brought about a sell-off on Wall Street. Nevertheless, the report made a substantial impact, coinciding with a significant drop in the Dow. Alap Shah’s name received unexpected notoriety.

Upon closer inspection, however, the reaction is not as remarkable. Similar to the general public, Wall Street is extremely worried about AI, with minor provocations causing considerable market fluctuations. Financial markets don’t always mirror reality, but these reactions highlight a broader anxiety. The AI future, reminiscent of a William Gibson concept, is unevenly distributed, leading to thrilling yet disconcerting developments.

No one completely grasps AI’s economic influence, but it is destined to be significant. Currently, stock values are elevated, encouraging market hopefulness. However, ominous reports or studies suggesting potential AI-induced disruptions remind investors of the unresolved and urgent issues at play. For example, earlier this month, a small company shifted from selling karaoke machines to AI logistics and released a report on enhancing truck loading efficiency, resulting in major losses in key logistics stocks, none of which had any prior connections to karaoke.

Following its effect on Wall Street, the Citrini report faced considerable backlash. Critics quickly pointed out its flaws. Some contended that AI has not yet had a meaningful effect on the economy. Others referenced historical resilience after technological advancements. A satirical response from Citadel Securities dismissed the report’s conclusions by outlining improbable conditions under which AI could instigate a lasting economic shock.

The most intense criticisms targeted the report’s claim that much of the economy is composed of unproductive middlemen and market makers exploiting public complacency. Shah argued that AI agents will enable consumers to effortlessly find the best deals, rendering apps unnecessary. He pointed out that DoorDash represents this transformation; consumers could circumvent apps, employing AI agents to directly arrange meals from restaurants and delivery services, resulting in a seamless experience. The implication is that companies like DoorDash are essentially comparable to outdated trends.