As capital and knowledge become widely accessible, the advantage no longer lies in having them—but in how you use them. Just as capital leverage moved from access to allocation, cognitive leverage is shifting from scarcity to judgment. In a world of abundant tools, the true edge is clarity, synthesis, and decisive action.

Capital used to be the moat. Now, it’s cognition. And both are cheap.

When capital became widely available, the power shifted from access to allocation. Now we’re watching the same thing happen with knowledge. Cognitive leverage—once gated—is abundant. But that doesn’t mean it’s easy to use.

Capital leverage once defined power. Access to financial resources was limited, and those who controlled it—banks, institutions, and industrialists—held all the cards. Simply having capital was an edge in itself. Whether you were lending it, acquiring distressed assets, or underwriting deals, power came from control.

But as interest rates dropped and access to capital widened, the dynamics shifted. Startups began raising millions with just a pitch deck. Retail investors flooded the markets. Capital became cheap and abundant. The edge no longer belonged to those who had capital—but to those who could allocate it well. Judgment overtook access as the key differentiator.

Cognitive leverage followed a similar path. For decades, knowledge was scarce. Expertise lived behind elite institutions, credentialed gatekeepers, and expensive consulting firms. To make sense of complex problems, you needed time, money, and specialized training. Those who could interpret complexity had the advantage.

Now, AI has democratized access to knowledge. Open-source tools, free education platforms, and AI agents can summarize dense research, write code, and even provide strategic insights. But access doesn’t equal mastery. Just like capital, cognitive leverage is now cheap and abundant—but unevenly applied.

The edge today belongs to those who can use this leverage effectively. The ones who ask sharper questions, synthesize information faster, and act with clarity. It’s no longer about owning the tool—it’s about knowing what to do with it.

Capital became cheap, and allocation won. Cognition is becoming cheap, and now judgment wins.

In a world where leverage is everywhere, clarity is rare. That’s your edge. Use it.