“What is your moat?” That’s Silicon Valley-speak for “what defends you from the competition.” As investors hunt for the next big AI company, it’s also one question that the hundreds of start-ups launched in the wake of ChatGPT increasingly can’t avoid.
How do you profit off intelligence once it’s been commoditized? Will the AI transition let a thousand flowers bloom, or will the returns largely flow to a few tech behemoths and their infrastructure providers? If there is anything we’ve learned from the social media era, it is that the rules governing AI today have the potential to shape the distribution of economic and cultural power for decades to come. We better get it right.
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