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The Fox and the Cat are the novel’s most modern cha­rac­ters. They persuade Pinocchio to bury his coins in the Field of Miracles on the promise that they will multiply overnight. Exploit im­pa­ti­ence, exploit greed, frame skep­ti­cism as a failure of ima­gi­na­ti­on, and dismiss skeptics as lacking vision. Remind you of someone? Space Cowboy for example?

That structure is so familiar I barely need to name it. But let me name it anyway.

Everyone from Jensen Huang to Sam Altman to Elon Musk spent a decade ac­cu­mu­la­ting what I have called symbolic capital, the re­pu­ta­ti­on, the prestige, the weight of being seen as someone who un­der­stands the future better than the rest of us. Now each of them seems to be running some version of the Field of Miracles, with promises that keep not arriving, timelines that dissolve, products that exist primarily as an­nounce­ments, and platforms run as machines for ge­ne­ra­ting more re­pu­ta­ti­on re­gard­less of what they actually do. They don’t need to be right. They need to be believed. Velocity is the new authority, and no one has wea­po­nized that more ef­fec­tively.

[…]

The al­go­rith­mic feed is the Land of Toys. It is built to keep you there past the point of nou­rish­ment, past the point where you are even enjoying it. Outrage travels faster than un­der­stan­ding. Spectacle beats judgment. The algorithm doesn’t care whether something is true. It cares whether it moves. And it keeps you scrolling, reacting, and returning in ways that benefit the platform, not you.

The political system has learned the same lesson. Go­ver­nan­ce is slow and grinding and un­sa­tis­fy­ing. Per­for­mance is fast and shareable. We have built media and political economies that reward en­ter­tai­ners over ad­mi­nis­tra­tors, and the clean story over the com­pli­ca­ted truth.

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