Jason Calacanis

But I think it's important to separate where each of them are good.

From an enterprise lens, which is where I see most of the action, particularly through 80-90, it's all anthropic all the time.

And I agree with Sachs.

My philosophical issues with the management aside, around their ideology, and sometimes how they use some of the capital for things other than tech and R&D, I have issues with those things.

But in terms of the quality of that technical team and what they create, it's head and shoulders above anything else.

It allows us to build a vibrant business.

Now, do I have issues with how much it costs?

Yes.

Do I have issues with how fast we're consuming tokens?

Also, yes, but I think those will get sorted out, and those are really tactical issues.

So the reason why I think we're all breathlessly trying to pit OpenAI versus Anthropic is because we want some drama, but the reality is these are very different businesses, and Nick found this tweet, which I thought was really interesting.

Because even at the absolute highest level,

These things are sort of presented in an apples to oranges way.

And there's like these very basic issues of rev rec that are fundamentally different.

And you may say, well, who cares about revenue recognition?

While the people that are trying to write the headlines that say one is overtaking the other and this or that sort of miss the fact that they're in completely different businesses, which is guided how they even think about growth.

And so if you normalize these two businesses, what you would see is open AI is still the overwhelming revenue generator in this space.

And that over time, anthropic is catching up.

And so this is this little diagram of

that tries to explain this.