It's become rather clear from the local LLM communities catching up that there is no moat. Everyone is still just barely figuring out how this nifty data structures produce such a powerful emergent behavior, there isn't any truly secret sauce yet.
> local LLM communities catching up that there is no moat.
they use Chinese open LLMs, but Chinese companies have moat: training datasets and some non-opensource tech, and also salaried talents, which one would need serious investment for if decide to bootstrap competitive frontier model today.
I’d argue there’s a _bit_ of secret sauce here, but the question is if there’s enough to justify valuations of the prop-AI firms, and that seems unlikely.
