That’s just two sides of the same coin. They run a proxy for LLM providers, which inevitably creates a marketplace. They’re amazon.com for tokens. The flip si

That’s just two sides of the same coin. They run a proxy for LLM providers, which inevitably creates a marketplace. They’re amazon.com for tokens. The flip side that others are pointing out is that Amazon is sticky because there’s a sprawling, physical logistics apparatus underneath. You can’t replicate amazon.com’s business without billions of dollars and a decade of building warehouses. I don’t see where OpenRouter has that. As far as software goes, theirs doesn’t seem particularly tricky. LiteLLM does vaguely similar things, at least for organizations where managing accounts isn’t absurd overhead. They were first, and there’s money to be made there, but what’s stopping someone else from building LibreRouter that charges a 3% or 4% fee instead of 5%? That’s where I get dubious of their valuation.