Brad DeLong
Role at the time: Economist responding in his own newsletter
Challenged the characterization
Statement summary
DeLong accepts the flat corporate measures but argues that user benefits and new businesses may matter more.
“User surplus, which I think is massive.”
Open source (opens in a new tab)Torsten Slok Beats the AI-Bear Drum: Charts of the DayDeLong's own user-surplus discussion after the Slok quotation
DeLong accepts the flat revenue and margin series but argues that user benefits and new firms are important effects outside that measure. He remains skeptical of current valuations.
Archived copy (opens in a new tab)Why we used this label
The case scrutinizes Slok's interpretation of payoff. DeLong challenges the yardstick, rather than its profit figures. Agreement on those figures does not endorse the interpretation; his valuation doubts are a separate assessment.