diff --git a/wai/research/content-taxonomy.md b/wai/research/content-taxonomy.md
index b4e73b2bd..d10c73867 100644
--- a/wai/research/content-taxonomy.md
+++ b/wai/research/content-taxonomy.md
@@ -30,7 +30,7 @@ position on the axis → different lever → different size of win.
 | 4 | **Determinism + receipts** | replay/decode/mixdown-equivalence, content-addressing, JWP signatures, joules | **cross-cutting** — applies even to content that can't be reconstructed |
 
 Levers 1–2 are the **compression** story. Lever 3 is the **medium-shift**
-story (the Disney "price per byte → joules per experience" thesis).
+story: the unit of value moves from bytes delivered to energy per experience.
 Lever 4 is the **trust-and-energy** story, and it rides on top of all of
 them.