Azeem Azhar

So we're learning that perhaps foundation labs don't look like software businesses.

They look like something different.

But, you know, these are the things I think that we have to play around with.

We've seen some success with ads and gen AI.

I think it was in Meta, wasn't it?

That they have really had some sort of forward momentum.

And you're sort of, you're stuck in there.

But I think that this question about the ads is a really important one.

I think, Jaime, what you've suggested is really intriguing.

So it is the question as to whether an advertising model is really, really fundamental to open AI or whether it is, it's a sort of instrumentally useful thing that gets you to the next

And, you know, I think a lot of that depends on how we start to use these tools.

I mean, you know, the piece of work that Epoch and Exponential View did looked at ancient history, with all due respect, right?

It was before last week.

Right.

It was before OpenClaw.

It was before Opus 4.6 and, you know, whatever else Anthropic comes out with.

And we looked at a particular world before what I think Andre Carpathi called the threshold of coherence for agents.

And he described this moment where the agents are now good enough that you can get them to do lots and lots of things for you.

And so that also makes me wonder whether that traditional ad model makes any sense because there ain't going to be any eyeballs.

To sell it to the agents.