AI agents will extract a lot of fees from users

The world of AI agent commerce is not a friction-free one of cheap transactions; it will be a highly metered and frictional experience

Imagine a world where AI agents handle every transaction. Your shopping bot negotiates directly with Nike, your investment agent arbitrages across markets, your scheduling agent cuts deals with Uber. In this vision, markets hum like clockwork, humans fade into the background, and the cost of coordination—the transaction cost that once justified firms—co…