Chamath argues OpenAI may be the 'AOL' of the AI era — dominant today but ultimately displaced by open-source models like Llama that deliver 85-90% of the capability at far lower cost, especially as enterprises figure out how to build their own LLM-driven tools.
Maybe OpenAI is AOL, right? Like, I think that there's going to be a Google that'll show up that'll— maybe it's Google. Grab a large part of the value here, or, you know, ultimately the cost comes down so much with the open source tools.” ⚑
Sacks is impressed by OpenAI's product quality and revenue growth but sees risk in consumer B2C churn; he believes long-term value lies in the B2B/API developer business, and questions whether OpenAI can maintain its leadership as other LLMs catch up.
if I was to try and take apart this business as an investor, I would separate the B2C business from the B2B business… as somebody who invests in SaaS, when we see a business that has B2C subscriptions and B2B, we place all the value on B2B.”