4 ms·
Can you explain how this is rent seeking? It seems to be straightforwardly not rent seeking. 1. Company develops model, invests in research, hardware, and soft
by kaashif 1y ago
Can you explain how this is rent seeking? It seems to be straightforwardly not rent seeking.
1. Company develops model, invests in research, hardware, and software.
2. Company sells access to the model.
(1) is the step that makes this not rent seeking.
Rent seeking is when you profit from something you didn't earn - land rent, monopoly profits, protectionism.
- dgfitz 1y agoThat’s fair. My thought was, when there is an interesting new technology, it usually takes time to figure out how to monetize it. Figuring out how to monetize LLMs took no time at all.
- davidmurdoch 1y ago"GPT 1.0" was released in 2018, I think that's a decent amount of time.
- dgfitz 1y agoWe must have different definitions of released.
- davidmurdoch 1y agoDon't shoot the messenger. It's just what wikipedia says. Generative Pre-trained Transformer 1 (GPT-1) Original author(s) OpenAI Initial release June 2018; 7 years ago