That's easy.

More tokens and bigger models pre-ipo to attract attention, limit everything post-ipo.

They did it before, will do it after.

Bankruptcy? How much longer can they sell a dollar for 50c?

By socializing the losses of course.

Increasingly it looks like it will end with a bubble bursting. LLMs and AI will survive, like the internet survived the dotcom bubble. But OpenAI and Anthropic could just be today's AOL and Yahoo.

if cutting prices is the definition of the race then its a race to the bottom.

These moves will only accelerate it.