3 share Nobel Prize in Economics
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Powell says no 'risk-free' path
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It’s hard to predict how the artificial-intelligence bubble will play out, but here’s a clue. Keep an eye on usage of AI, measured in units known as ‘tokens.’ It’s soaring.
Buenos Aires, September 2023. Hundreds of people crowded around to wave flags and film on their phones. The man with unruly hair and sideburns in the centre of them, clad in a black leather jacket, hoisted a roaring chainsaw above his head.
Economies of scale refer to the process of reducing the average cost per unit as production scales. It enables higher profitability through spreading fixed costs, bulk purchasing discounts, operational efficiency and other means. SaaS companies uniquely leverage economies of scale.