Dwarkesh Patel
@dwarkesh_sp · Jul 30, 2026
I agree that if you think "capabilities growth will be slower, spikier, and more data-limited than people currently assume", then you should be bearish on LLM companies.
But the crux is just you think timelines are long, not necessarily something structural about the business.
Andrew Ho@andrewho03· Jul 30, 2026I'm actually fairly bearish on frontier lab valuations. I've never seen the reasons articulated to my satisfaction, so before I go to sleep, I wanted to quickly jot down my thinking here.
The basic issue is that the labs are highly unprofitable. This may seem like a simple
Elon Musk
@elonmusk
AI is already superhuman at many things.
We are in the singularity.
12:48 AM · July 31, 2026 · 114.3K views
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