I will soon be joining Anthropic, and so this is my last opportunity to write down some thoughts on the AI lab business model before I can be accused of spilling any inside information. Although large language model (LLM) providers like OpenAI and Anthropic have spearheaded a new AI revolution, it is still not clear at this point that they are good businesses. The question on the minds of investors is whether these pioneering labs will reap profits, or whether instead other parts of the AI ecosy...