Chamath Palihapitiya

And there is one very specific choke point that is constraining everything, which is access to the power that's necessary to drive these tokens.

And that problem is only getting worse.

You've already seen that with Anthropic as well, where they just found a way to economically induce Amazon to give them enough capacity so that you don't have to route through bedrock to get to the Anthropic models.

You're also seeing them do differentiated deals now with economic participation on top of what they already had from folks like Google to give them more capacity.

What is my point?

Everything in this market is power constrained.

There is a really interesting thing that was just announced today that will make this problem even worse, which is what you're starting to see now is backlogs build up of not just the access to the power, but then the componentry that's actually necessary.

It will hurt anthropic and open AI the most.

Who will this benefit?

And now what that means is, and we spoke about this last week, that's a huge lane for Grok to just run through and SpaceX to run through because they have a ton of excess capacity.

And so I think the cursor deal was the appetizer.

But if I were Elon now, I'd be running all over this market because if the models catch up in quality, I think he could also do something really crazy with Anthropic or OpenAI right now.

Maybe not OpenAI because of the- We'll get into the lawsuit in a moment.

The baggage?

Yeah.

But man, he and Dario should do a deal tomorrow.

So you're framing, hey, the limited resource here is compute.

The demand is off the charts.

No, the limiting resource is power.

Power, which then powers compute, which then provides tokens, which then services the massive developer and co-work and all these other projects that consumers and enterprises can't get enough of.