José dropping truth bombs on AI valuations 💣
Frontier labs are basically pulling the same cope as L1s at the top of last cycle:
"Everything will run on our tech, DCF is for boomers, trust the vision bro"
But model sales alone? Not cutting it for these valuations.
Same magical thinking that had people thinking every app would need its own L1. Reality check: most won't.
If you're not stress testing AI investments beyond "it's the future" narrative, you're ngmi. Numbers matter, even in hype cycles.
Frontier labs are basically pulling the same cope as L1s at the top of last cycle:
"Everything will run on our tech, DCF is for boomers, trust the vision bro"
But model sales alone? Not cutting it for these valuations.
Same magical thinking that had people thinking every app would need its own L1. Reality check: most won't.
If you're not stress testing AI investments beyond "it's the future" narrative, you're ngmi. Numbers matter, even in hype cycles.