Why Wall Street panicked over a sci-fi blog post
Vox
February 25, 2026
AI-Generated Deep Dive Summary
Wall Street recently experienced a rare moment of panic triggered by a speculative yet influential blog post from Citrini Research. The firm’s science fiction-inspired memo, set in 2028, envisioned a catastrophic AI-driven financial meltdown. While earlier fears focused on AI failing to generate profits, this scenario painted a far grimmer picture: AI succeeds too well, creating massive productivity gains and profits for tech giants, while devastating the broader economy.
The memo outlined two primary threats. First, AI could render white-collar jobs obsolete, leading to a cycle of layoffs and reduced consumer spending. By 2026, AI agents like Claude could perform tasks valued at $180,000 annually—for just $200 a month—displacing workers across consulting, finance, and tech. Companies respond by investing heavily in AI, further accelerating job losses and economic contraction. This反馈 loop exacerbates inequality as the wealthy reinvest profits into AI while middle- and working-class consumers slash spending, deepening the recession.
Second, AI could disrupt major industries like food delivery. Using tools like Claude Code, small entrepreneurs could undercut established players like DoorDash by creating cheaper, more efficient platforms. The memo argues that even non-tech-savvy users would rely on AI agents to find the best deals, stripping away market dominance from traditional firms and collapsing their revenue models.
Despite its speculative nature, the post resonated with investors, driving a $200 billion drop in US stocks. While critics question its plausibility—pointing to historical resilience of white-collar jobs and the role of fiscal policy
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Originally published on Vox on 2/25/2026