If they grow to 20T then buying the index will also be a good investment but with a good risk hedge.
Isn't it likely that inference providers like Anthropic continue to capture more and more of the share of labor as revenue? Everything up makes sense for a year or two as we automate more and more labor, but at some point unemployment will drag the whole market down. It's difficult to see it working out any other way, unless we come up with something like a token tax.
> Isn't it likely that inference providers like Anthropic continue to capture more and more of the share of labor as revenue?
Not if open weight models turn inference into a commodity that's sold at cost.
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