This article kind of reads like "Generative AI isn't that disruptive to popular business models". Not sure whether I hold that opinion as well, but at least in consumer, my bet is on value to continue accruing where:
- businesses own the customer relationship
- there are network effects
- content is distributed
It does feel disruptive to me though that as margins come down, even more share of the pie goes to infra than to the content or product distributors.
If I had to make an investment thesis I'd probably lean on (1) content production costs trending to 0 (2) algorithmic, efficiency, or scale advantages
