The Asymmetry of Selling Compute
A couple of readers recently emailed me a paper by Columbia Business School professor Stijn Van Nieuwerburgh.
Topic
Anthropic
A collection of 17 issues
Narrowing the Downside on the Labs
Given the private market valuation of OpenAI and Anthropic, it does feel a little strange for me to claim the labs may be better business than appreciated by investors. But I do notice a persistent skepticism among many investors about the labs business model.
What Anthropic's 25 Gigawatts Can Earn in 2030
On Wednesday I showed what OpenAI has to believe to break even in 2030 and said I would run the same exercise for Anthropic. However, when I started working on Anthropic, I realized the relevant questions are a bit different for the company.
The Left Tail of AI
AI is obviously a transformational technology, and anyone still dismissing it as a 'con' job is, ironically, likely pulling a con themselves. It’s hard not to feel that AI needs a better group of bears if we crave for a more diversity of opinions around AI.
Rethinking the Data Moat
I want to highlight a couple of pieces which I found to be quite intriguing. The first is Dwarkesh Patel’s conversation with Ryan Greenblatt, chief scientist at Redwood Research.
License to Chase the AI Frontier
While looking at Artificial Analysis Intelligence Index, I was quite struck by what they all have in common. The top model developers except one all have one thing in common: they are all currently founder-led companies.
Hyperscalers vs AI Labs Debate, and the Moving AI Frontier
I thought I would cover Microsoft’s earnings today, but let me first respond to a tweet by SouthernValue and then I will share some thoughts on the state of AI models. I recommend you read his pushback to my yesterday’s piece before you read the rest.
Defending the Enterprise Castle from the Model Layer
If Microsoft’s lagging stock performance didn’t already cause a tinge of nervousness among its shareholders, Satya Nadella has been writing several pieces on X almost to clarify why Microsoft may be in a spot of bother in a world where model layer eventually becomes utterly dominant in capturing
The Salience of Data
Let me begin with a thought experiment. Imagine you know nothing about OpenAI’s or Anthropic’s financials.
Token Cost Conundrums
A couple of weeks ago, I highlighted a couple of pieces by Anjali Shrivastava who made the point that a token is not a fixed unit of cost. Today’s piece is a follow-up driving the point home that even though every model charges its API customers per token, tokens are far from a standard unit.