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Feb 11
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AVOID
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Nick Carter
General Partner, Castle Island Ventures
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Nick calls model companies "capital incinerators" and notes that OpenAI's revenue performance obligations (RPOs) are essentially "bad debt" because users might switch models easily. There is no moat in the model layer; Gemini, Claude, and Grok are interchangeable. Valuation is based on hype rather than defensible cash flows. Avoid the model layer due to commoditization risks and excessive private valuations. A single model achieves AGI first and captures a complete monopoly. |
Unchained (Chopping Block)
Would BlackRock Try to Save Bitcoin From the ...
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Feb 09
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LONG
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Ali Ghodsi
CEO, Databricks
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The future of enterprise AI is "Multi-Model," not winner-take-all. Just as financial institutions adopted a "Multi-Cloud" strategy (using AWS, Azure, and Google Cloud simultaneously) to reduce risk, enterprises are using multiple AI models. They switch between them based on performance and cost because the interface (English language) is universal. Ghodsi personally uses Claude for coding, ChatGPT for projects, and Gemini for speed. Databricks customers are demanding access to all major models. Intense price competition (race to the bottom) could compress margins for all providers. |
CNBC
Preparing for another tech wipeout: Databrick...
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