valuations and funding look at *growth*, not money out and money in

ai has produced some of the fastest growing companies of All Time and plotting the trend leads to very profitable businesses in the future (which is the whole point of investing)

i think it would be a more nuanced and interesting conversation to talk about 1) how growth will change and 2) how the rapidly falling cost of intelligence will affect the different players in the ecosystem

(not a bullpost for the labs, i think their situation is precarious)