For much of the 20th century, society was built around bell curves: Average job. Average company. Average return. Average salary. Average investor.

The middle was large because distribution was constrained. Geography constrained jobs. Shelf space constrained products. Regulation constrained market access. Broadcast limited which voices got heard. Capital constraints kept outcomes tighter.

The middle looked big and the extremes were hidden.

Now everything is becoming more power law. Power laws happen when distribution gets cheaper, markets get more liquid, and talent/capital can scale faster thanks to AI.

A handful of companies now capture most of the market cap. A handful of creators capture most of the attention. A handful of funds capture most of the returns. A handful of workers capture most of the income growth in AI-exposed fields.

This was already obvious in venture capital. One fund-returning company mattered more than the entire rest of the portfolio. Then it became obvious in public markets with the magnificent seven.

Now it is spreading into labor, media, trading, startups, creator businesses, and information markets.