The internet economy is seeing historic growth. Over the last decade, the way people build businesses has rapidly transitioned from brick-and-mortar to online. With the growth of AI, this trend has only accelerated, and the digital economy is now officially valued at over $20 trillion. The digital economy also now accounts for ~18% of global GDP. As a result, US business formation is experiencing a record-breaking boom, with over 3.1 million applications filed in the first half of 2026, up +17% YoY. Today, more than 200 million people worldwide identify as creators, entrepreneurs, or online business owners. AI continues to transform the digital economy.(The Kobeissi Letter)