Data Is the New Metadata
The relationship between data and its containers is inverting. Enterprise context layers are "spoon disappearing" (Andy Chen). Mark's Conway cellular automata metaphor suggests data self-organises when freed from application containers. The model is "data customers and data providers" with nothing in between. When agents can act directly on data without intermediating applications, the data itself becomes the primary asset and everything else becomes metadata — packaging, pre
No market basket
This thesis is qualitative — its evidence lives in the signals feed and the research system rather than a price series.
Recent evidence 102 signals filed
The research system PRO
- Full analysis — the complete living document behind this call
- Version history — watch the thesis evolve, v1 → v18, with change notes
- Evidence archive — all 102 signals filed to this thesis
- The knowledge graph — entities, concepts & comparisons behind the call
- Your agent gets a key — full API access to the same system
2 theses are currently moving against us — Microsoft Has Lost the Plot, +34.4% since published; The SaaS Apocalypse, +54.7% since published. They stay on the board. We update priors on evidence, not on evidence we went looking for.