LLMs + ICMs are going to push Coase's Thm to the limit. The size of the firm is basically determined by the costs of running a company (hierarchy, principal-agent, employee mindset) versus the benefits of running a company (company has budget, department for everything, hundreds of people with specific knowledge). LLMs + Internet Capital Markets reduce the benefits of working within a company. You can raise capital onchain and the LLM can do anything and works for free. I believe LLMs also raise the cost of working within a firm because the differential between how much genuine productivity a motivated person can get out of an LLM and how much fake productivity an unmotivated person using an LLM can show to coast through the day. Get ready for <20 person companies everywhere.