# Mike Novogratz — AI "human commoditization" > [!quote] "[It was] basically an indictment of the AI business model that they're basically absorbing information from all of us, absorbing information from all the companies, and the result of which will lead to some sort of human commoditization." > — Mike Novogratz, SALT podcast, reported July 2026 He prefaced it by calling [[Alex Karp]]'s CNBC interview "probably among the most honest things that I've seen on television in a very long time." ## Context Speaking on the SALT podcast the weekend of July 11, 2026, [[Galaxy Digital]] founder [[Mike Novogratz]] endorsed a combative CNBC appearance by [[Palantir]] CEO [[Alex Karp]], reading it as an indictment of how the major AI labs make money: by absorbing the data of their users and enterprise customers as the actual product. Karp's original attack targeted the token-based pricing model of AI labs including [[OpenAI]] and [[Anthropic]], accusing them of overcharging enterprises while extracting the proprietary data that could later be used to compete against those same customers. Novogratz added that the pace of AI adoption was outrunning regulators' ability to respond. ## Why this matters The receipt is notable for who is delivering it. Novogratz is not an AI skeptic on the outside — [[Galaxy Digital]] is in the middle of converting its Bitcoin-mining power stack into **data-center capacity leased to the AI industry**, making him a direct beneficiary of the buildout he is criticizing. When a sector insider names the data-extraction dynamic out loud — "absorbing information from all of us" — it corroborates, from the supply side, the same critique the vault documents from the labor, surveillance, and defense-tech angles. It also pairs as a **counter-receipt** to Karp's own [[Alex Karp - AI haves and have-nots]] framing: where Karp sells the winner-take-all AI future as destiny, Novogratz names its cost as the commoditization of the people feeding the machine. ## Verification - **Reporting:** [Yahoo Finance / Benzinga](https://finance.yahoo.com/technology/ai/articles/galaxy-mike-novogratz-warns-ai-095608392.html) and [Stocktwits](https://stocktwits.com/news-articles/markets/equity/glxy-novogratz-karp-ai-commoditization/cZmDgMdR7o5), July 2026. - **Status:** Verbatim per the reporting, undisputed. Exact air date of the SALT podcast episode is given only as "Saturday" in the coverage (weekend of July 11, 2026); `date_uttered` reflects that reported date and may be off by a day. ## Related quotes - [[Alex Karp - AI haves and have-nots]] — the winner-take-all framing Novogratz is reacting against.