> A year or two beyond the competition, at this point, is their moat. That doesn't seem like much of a moat. > They have GPT-5 in the pipeline and are likely

> A year or two beyond the competition, at this point, is their moat. That doesn't seem like much of a moat. > They have GPT-5 in the pipeline and are likely hard at work planning and prepping for GPT-6. I wouldn't be surprised if there's an element of diminishing returns here. The improvement from GPT4 to GPT5 is likely much less than GPT3 to GTP4.