Execution moves out. Context and control move in.
The map shows four firm boundaries: the institutional core, the internal agent operating system, the fractional network, and the market or platform layer. Work should move outward only when the core can still preserve memory, policy, evaluation, and responsibility. Select a node to see the contract.
The same work, sorted by what can be rented
The ledger drops the map and asks a simpler question: what can the firm rent, and what must it still understand?
Facts, inferences, and company reports
The productivity evidence is real and bounded. First-party operating metrics can show how a mechanism works inside one company without proving that it caused the result or will generalize.
Four shapes the firm could take
AI execution can make firms more leveraged, more brittle, more dependent on platforms, or better at training people. The result depends on who owns the context and who still gets to learn.
What moves out creates new work inside
When transaction costs fall, execution crosses the boundary. The firm then has to pull memory, standards, and decision rights closer to the center.