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…“OpenAI alone has been valued at north of $800 bn. Anthropic, yet to produce a single year of profit, commands a valuation in the same stratosphere. These numbers need an addressable market large enough to justify them.

There is only one market that large: the global labor market.

…

The financial model requires the elimination of human cost at civilizational scale. If it doesn’t do that, these companies are the most overvalued assets in the history of capitalism.”

https://www.owenmcgrann.com/p/the-dead-economy-theory