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Book Club

Beggars in Spain

For April’s book club session we read Nancy Kress’s Beggars in Spain. I first read Beggars in Spain a while ago, and it is fairly rare that we choose a book for book club that isn’t new to me. The book was written before the internet had fully taken hold—before we understood just how profoundly technology would reshape not only how we work, but how we assign value to people. And yet, for a novel so rooted in its moment, it has proven strangely durable in my own thinking. My mind has returned to it again and again, particularly at inflection points—whenever a new technological shift begins to redraw the boundaries of who contributes, who thrives, and who is left behind.

Nancy Kress imagines a world divided by a single engineered advantage: the ability to live without sleep. The Sleepless are more productive, more economically valuable, and—unsurprisingly—more powerful. It is a clean, almost clinical premise, and that clarity is both the book’s strength and, at times, its limitation. Written before the complexity of the internet economy, platform dynamics, and algorithmic influence, the novel presents inequality in stark, binary terms. There are those who can produce more, and those who cannot. The resulting social fracture is direct, ideological, and at times almost too neatly drawn.

Kress anchors this divide in a question that echoes a familiar moral frame:

“If you beg from those who have nothing to give, is it any less wrong than stealing from those who have more than enough?”

The title itself gestures toward this tension—what is owed, what can be given, and what happens when need and capacity no longer align. The Sleepless are not simply advantaged; they exist in a system where traditional expectations of mutual obligation begin to break down.

And yet, beneath that simplicity lies the reason the book still lingers. The Sleepless are not merely more efficient; they fundamentally disrupt the social contract. If productivity becomes the primary measure of worth, what happens to those who cannot—or will not—compete on those terms? What obligations, if any, do the advantaged have to the rest? These questions feel even more urgent now than they did when I first encountered them. Today, the divide is less about genetics and more about access—to data, to compute, to systems of leverage that amplify certain individuals and organizations far beyond others. But the underlying tension is the same.

What makes Beggars in Spain particularly compelling is that it refuses easy answers. The Sleepless are not villains, nor are they purely sympathetic. They are, in many ways, rational actors responding to a system that rewards their capabilities. The discomfort comes from recognizing that their logic is not entirely wrong—and that the consequences of that logic are deeply destabilizing.

At the same time, the novel does feel dated in its execution. The characters often serve as vessels for ideas rather than fully realized individuals, and the social dynamics lack the messy, networked complexity that defines modern life. Conflict unfolds more like a structured debate than an emergent property of overlapping systems and incentives. For some folks in our book club, this made the narrative feel somewhat distant, even as the themes remain sharply relevant.

But perhaps that distance is part of its value. By stripping the problem down to its essentials, Kress exposes a core question that continues to resurface in different forms: how do we build a society that remains humane in the face of uneven capability? When technological or biological advances create outsized gains for some, how do we prevent that divergence from calcifying into permanent division?

If anything, the book reads now less as a prediction and more as a recurring thought experiment—one that replays each time a new technology reshapes the landscape. Whether the dividing line is sleeplessness, artificial intelligence, or something yet to come, the challenge remains: how do we ensure that progress does not come at the expense of cohesion?

That is why, decades later, Beggars in Spain continues to echo. Not because it got every detail right, but because it understood the shape of human nature and a question we would keep asking.

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Book Club

1929

For March’s book club we read Aaron Sorkin’s 1929:  Inside the Greatest Crash in Wall Street History–and How It Shattered a Nation. There was something almost too on-the-nose reading 1929 while sitting in New York City, speaking at a conference focused on the future of data centers—how fast they must scale, how much capital they require, and how insatiable the demand for AI infrastructure has become.

It felt less like reading history and more like watching a pattern repeat itself in real time.

I didn’t love the book. It’s highly stylized, driven by Sorkin’s signature rapid-fire dialogue, and while in some books that works, given that this occurred nearly 100 years ago there was something not-quite legitimate about it. The voicing didn’t match the age; at times it feels more like a performance rather than a deep exploration of the history and forces behind the 1929 market crash. I kept wanting more grounding, more synthesis, more of the “this is what actually happened and why it matters” that strong narrative nonfiction delivers. Instead, it offers fragments—compelling, articulate, but ultimately inconclusive.

And yet, despite that frustration, I couldn’t stop thinking about it.

Because what 1929 does capture—perhaps unintentionally—is the power of narrative itself. Not just the story of the market, but the story about the market. The media voices, the confident assertions, the polished explanations that don’t just describe reality—they shape it.

In Sorkin’s world, everyone sounds certain. The language is crisp, persuasive, almost irresistible. And that’s the point, whether the book fully realizes it or not: when enough authoritative voices repeat a story, it becomes truth-adjacent. It becomes investable.

Sitting in conference rooms in New York, listening to conversations about AI infrastructure—about exponential demand, about the race to build, about the inevitability of growth—it was hard not to hear echoes of that same tone. Different domain, same cadence. The certainty. The momentum. The underlying assumption that this time, the scale is justified.

And maybe it is.

But we’ve seen this before.

The parallels aren’t about predicting a crash—they’re about recognizing a pattern:

  • A transformative technology reshaping the economy
  • Massive capital flowing into infrastructure to support it
  • Media and market narratives reinforcing the inevitability of growth
  • A feedback loop where belief drives investment, and investment reinforces belief

Today, that narrative is amplified not just by traditional media, but by social media and algorithmic ecosystems. The velocity is higher. The reach is broader. The line between analysis and amplification is blurrier. And increasingly, AI itself is both the subject of the hype cycle and a participant in spreading it.

What 1929 hints at—but never fully dissects—is how dangerous that convergence can be. Not because the underlying innovation isn’t real, but because the narrative around it can outpace reality. Confidence becomes consensus. Consensus becomes momentum. And momentum becomes hard to question.

Reading the book in isolation, I found it lacking. Reading it in context—in the middle of a modern infrastructure boom, surrounded by conversations that felt eerily familiar—it became something else entirely. Less a definitive account, and more a mirror.

A reminder that markets don’t just run on fundamentals. They run on stories.

And we are very, very good at telling ourselves the ones we want to believe.