Foundation Model Labs

“The labs themselves will have more application capabilities, but those will be fairly general. Like they're, you can maybe build general agents that can do this thing or that thing. But for a lot of these like core verticals, like ours, our thesis is that, you…”

“And I really do think at the end of the day, it is a race against the labs, and I think every single company on earth is competing against them.”

“I think that they will start acquiring in any space where they see a significant amount of traction.”

“For a lot of these categories, the labs set the baseline in terms of customer experience. They're like, they're your competition at your base layer. And so whatever you can get from ChatGPT or whatever you can get from anything directly from the labs apps them…”

“I think it makes a lot of sense for them to push into application layer, and I think they will. In terms of what applications, I mean, generally they'll probably start with applications where it's more consumer prosumer-y because there's, it's just more self-c…”

“The hardest part to get right is this inter interaction between like the AI, the complex agentic systems of like how the models are used and the user experience.”

“It seems like OpenAI has cracked a version of this that works, and we think A, Foundation Model Labs will come up with better ways of doing this, and B, so far it largely works for very verifiable domains, things that look like math and physics and maybe secon…”

“If you break out the numbers here a bit more, the red is actually just a small number of foundation model labs, like what you would think of as the largest labs raising money, which is upwards of 30 to forty billion dollars this year, and so the reality of the…”