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Anyone who's credit rating is bad enough to not be able to get a credit card.

VC money bailing out other VCs. A tale as old as time.

Customers come back to Netflix since they have the best content out of all the streaming providers. This is their moat.

ChatGPT, on the other hand, is literally exactly identical to their competitors for the most common use cases.

OpenAIs investors can look forward to having an operating margin as impressive as the company that produces Band-Aid

Stickyness absolutely helps. But it won't get you anywhere close to a MAG7 operating margin. I think we are already seeing the start of price wars. I cancelled my ChatGPT subscription once i realized Gemini Pro was included in my Google Workspace and never looked back for a second.

Does this matter if a 2 person startup can blow them away on price?

...if it works.

Muddying the water to make it seem deep.

Except resources won't be plentiful for a long while since AI is only impacting the service sector. You can't eat a service, you can't live in one. SAAS will get very cheap though...

They are not free, they are paid for by taxes. And in pretty much all countries, irrespective of funding model, these services have increased in price much faster than general inflation. This is the Baumol effect in action.

indicies that usually do not perform that well

MSCI EM has outperformed MSCI US since it's inception in 2001 if you look at total return.

When you take depreciation into account, it's probably less profitable than a government bond.

I wish I could use Mullvad. But their IPs are banned from many streaming services and they don't change them often enough so I am stuck with Nord.

Most investors have more money invested in their house than stocks.

weird flex

Despite

...and a decade later they were close to bankruptcy.

All chat apps look exactly the same and have exactly the same features. The friction is basically non-existent compared to email services, social media, web browsers, &c.

Just like no one normal would ever switch from internet explorer?

What are you talking about? It's trading at 55x EPS and 41x forward EPS.

Might have been the case before. But these days, kids are brought up on locked-down content-focused machines (e.g. ipads). They struggle with anything harder than restarting an app.

Don't really need much capital if you don't need any engineers.

Don't need social connections if the end-consumer can just conjure up apps themselves with AI.

I just pasted my last conversation with ChatGPT into that which also gave me 0% AI GPT. I would take that site with a mountain of salt.

Most businesses are not as portable as a tech startup.

Young people don't even speak to each other on the phone anymore.

You can rent one from most cloud providers for a few bucks an hour.

[Citation needed]

Something like Russell 2k would be a better comparison if GP is trading pennystocks.

Typing shouldn't be what's taking up most of your time if you are a great dev writing great code.

Microsoft is providing the compute, the capital, and if 365 Copilot takes off, also the consumers.

Microsoft has a mote. Oai does not.