Satya Nadella

And having competed against Oracle and IBM in client-server, I knew that, look, the buyers will not tolerate winner-take-all, right?

Structurally, hyperscale will never be a winner-take-all because buyers are smart.

Consumer markets sometimes can be winner-take-all, but anything where the buyer is a corporation, an enterprise, an IT department, they will want multiple suppliers.

And so you gotta be one of the multiple suppliers.

And so that I think is what'll happen even in the model side.

So there will be open source, there will be a governor, just like on Windows.

One of the big lessons learned for me was if you have a closed source operating system,

there will be a complement to it, which will be open source.

And so to some degree, that's a real check on what happens.

And so I think in models, there is one dimension of maybe there will be a few closed source.

There will definitely be an open source alternative.

And the open source alternative will actually make sure the closed source winner-take-all is mitigated.

So that's kind of at least my feeling on the model side.

And by the way, let's not discount if this thing is really as powerful as people make it out to be.

The state is not going to sit around and wait for private companies to go around and all over the world.

So it's sort of I don't see it as a winner take all.

Then about that.

I think it's going to be the same old stuff, which is in consumer, in some categories, there may be some winner-take-all network effect, right?

After all, ChatGPT is a great example.

Like, I mean, it's kind of like it's an at-scale consumer property that has already got real escape velocity, right?