I see a lot of people in tech claiming to "understand" what an LLM "really is" unlike all the gullible non-technical people out there. And, as one of those technical people who works in the LLM industry, I feel like I need call B.S. on us.

A. We don't really understand what's going on in LLMs. Mechanical interpretability is like a nascent field and the best results have come on dramatically smaller models. Understanding the surface-level mechanic of an LLM (an autoregressive transformer) should perhaps instill more wonder than confidence.

B. The field is changing quickly and is not limited to the literal mechanic of an LLM. Tool calls, reasoning models, parallel compute, and agentic loops add all kinds of new emergent effects. There are teams of geniuses with billion-dollar research budgets hunting for the next big trick.

C. Even if we were limited to baseline LLMs, they had very surprising properties as they scaled up and the scaling isn't done yet. GPT5 was based on the GPT4 pretraining. We might start seeing (actual) next-level LLMs next year. Who actually knows how that might go? <<yes, yes, I know Orion didn't go so well. But that was far from the last word on the subject.>>