LLM providers

“NVIDIA is, at that point. The cloud providers are pretty much at cost LLM providers, we're not at cost hopefully, but the margin that, Are known to be lower than the typical software margins.”

“I do think there will not be that many LLM players. I think that there will probably be, my guess is somewhere between five to seven long-term steady state LLM providers at maximum scale, just because of the costs involved.”

“I often refer to it as a drunken bar fight that's happening in our industry, is that we are, you know, all these companies are massively incentivized to drop the cost of their models as quickly as possible.”

“The pure venture multiple will likely be lower than some of the other categories in the past. I think that is clear. The difference is that the size of the outcome and the speed of Very importantly, the speed at which the size is gonna get reached means that y…”

“Beware of gross margin in the early days. That's a mistake we made a couple of times. You know, you have a lot of businesses that in the early days have really bad gross margin. All the LLM providers were very clear examples of that. I think if that's the only…”