I actually think that plateauing is the best case scenario for big labs.

I think there are three broad scenarios to consider:

- Super-intelligence is achieved. In this scenario the economics totally break down, but even ignoring that, it’s hard to imagine that there are any winners except for the the singular lab that gets here first.

- Scaling laws hold up and models continue to get better, but we never see any sort of “takeoff”. In this scenario, models continue to become stale after mere months and labs have to spend enormous amounts of money to stay competitive.

- Model raw capabilities plateau. In this scenario open source will catch up, but labs will have the opportunity to invest in specific verticals.

I believe that we’re already seeing the third scenario play out, but time will tell.