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Isn't there a pretty big cost in training these LLMs?

One that prevents you from competing, but not most larger tech companies.

If you think if it like any other product, the picture is clearer.

A startup invents a widget whose production costs are somewhat high, but there's no patents/etc. So all major players could invent their own. Where's the value? Just in the sale to a major player.

I hear you. What do you think of the time/expertise/tooling it takes to train these models (and that's it's an iterative process and openai has a significant head start). This strikes me as more than a 'first to the gate' advantage (but perhaps less than a traditional moat).

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