Possibly speaks to its moat being weak, if a dedicated team from scratch can duplicate their efforts and get to where they are today in 2 years (but not where they will be).

It's not work, but the Lindy effect makes Anthropic's outlook in 2032 very uncertain.

Because building a stable revenue base takes time. We've had many flash-in-a-pan type product but things which still make money 10 years later are rare.