Foundation model importance does not equal value capture

“The idea is to identify opportunities to buy mature, people-intensive outfits like law firms and other professional services firms, help them scale through AI, then use the improved…”

““Enterprises within themselves have barely done anything, right,” he said, “they’ve just woken up.””

““The M&A market has been stymied,” he said, “so that really decreases the ability of certain companies to find their proper home where they could actually be more useful or impactful.””

“As I said, I don't think it was bad for AI. And I think, on net, the world deserves to understand how the universe works. But I do have empathy for the method.”

“People were just throwing that at the hardest problems they could. And people didn't think the model was going to do these things.”

“Our first-party model APIs are now processing nearly 32 billion tokens per minute — 40% more than last quarter and more than four times what we processed a year ago.”