AI models are in a race to the bottom and everybody inside Anthropic knows it. Besides OpenAI, with billions to spend plus a partnership with MS, there's also Google, Apple, Meta and Amazon who can afford to run losses on AI for years without blinking an eye. And if that wasn't enough the Open Source world is releasing new models almost weekly now, for free. Anthropic is putting on a big show to convince gullible inv…
The counter argument is that it's a growing market where any early entrants will be lifted with the tide and can probably yield enough profit from spillover hype for investors to make their investments back.
Plus first-mover advantage has consistently shown to not be a legitimate strategy as there are a ton of cases where the first winner gets taken over by a new entrant once the market matures (Friendster being the classic example). Often the later companies learn from the mistakes of the first play.
R&D heavy markets might have some different characteristics but it's still way too early to say with AI.