Josh Brown

speaker

8,054 appearances 21 recordings 2 series first heard Feb 2026 last heard 7 Aug

Josh Brown’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 21 in all, peaking in Jul 2026 with 6.

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It's a very expensive call option.

This is what I wanted to get your thoughts on.

Did you read Dwarkesh's?

Okay.

So Josh, listen to this.

So he wrote a blog post, why compute might get 10 times more expensive in the coming years.

And he said, anthropic revenue has 10 X year over year, 10 X. That's right.

Anthropic likely ends the year with a hundred to $150 billion of revenue.

For this trend to continue, Anthropic would have to make $1 trillion in revenue by the end of next year.

There's no deep reason why trends need to continue, and it very well might not.

It's ultimately a question about AI capabilities.

But suppose it does.

What would have to be true about that world?

So we're talking about a world where Anthropic does a trillion dollars in revenue.

Lab compute 3Xs year over year.

For a lab to 10X revenue while continuing to only 3X compute, some combination of the following three things has to happen.

One, lab margins have to increase.

Two, the price of compute has to increase.

And three, labs have to spend a greater fraction of their compute on inference.

And he concludes it with, my understanding is that basically all of these three things have been happening.

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