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> It 100% is [useful]

It's worth disambiguating between "worth $50b of investment" useful versus "worth $1t of investment" useful

For perspective, there are 10 companies with a market cap over $1T. Is the value of LLMs greater than Tesla? Absolutely.

The problem of course is that plenty of that $1T in investment will go to stupid investments. The people whose investments pan out will be the next generation of Zuckerbergs. The rest will be remembered like MySpace or Webvan.

To be fair, while the incremental value of each additional year that Tesla remains in existence may not be so great, it did finally change the conventional wisdom about the viability of electric vehicles which will continue to have substantial impact.

Furthermore the price of the most recently sold share times the number outstanding does not represent the total R&D or spending to make Teslas.

I'll add that MSFT, AAPL, GOOGL, AMZN, and META generated >$450B in net income in the last 4 quarters. It can't be overstated how much profits they can burn on AI without losing money.

Especially when, as it is currently in vogue to observe, the difference between $50b and $1t is roughly $1t.

Up to 2 significant figures...

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