The Death Cross as Political Event

You On AI documents the Software Death Cross — the eight-week disappearance of a trillion dollars of market value from SaaS companies as AI overtook software valuations — primarily as an economic event. The Winner volume reframes it as a political event of the first order. A trillion dollars is not an abstraction. It is pensions that lost value, employees whose stock options became worthless, communities built around technology campuses whose tax bases contracted, downstream businesses dependent on technology-worker spending whose economic position was restructured overnight. A trillion-dollar redistribution is comparable in human effects to major legislation. The difference is that legislation passes through democratic process — imperfect, but with debate, representation, and possibility of amendment. Market repricing passes through no such process. The people on the wrong side of it bear the cost without recourse.