Comment by entropi
3 days ago
There are quite a few assumptions in your message. But here is, I think, the most crucial one:
> but since the EV is so high for first mover advantage for AGI
is it? why? I cant see why this should be the case. where exactly do you think the "moat" for AGI will come from?
At this level, you probably don't need a moat to recoup your surplus sunk costs due to AI talent acquisition. You just need a good day in the market, likely the same day you announce you've achieved AGI. It's kayfabe accounting.
Any announcement of AGI will be immediately controversial. Valuation increases will depend on whether people actually believe it and what they're able to sell. Expect public opinion to be fickle and share prices to be volatile.
Decent odds we see some pretenders make that announcement before the real deal. A company with the real deal would probably make bank, but I don't pretend to know when that will come or who that might be.
I don't think that price movement is necessary to make money as an outsize shareholder, especially during high volatility. Zuck knows how to buy the market leader early, so we might have already seen the creator of AGI be poached by Meta, they just haven't realized what they know yet until they work with others in the org.
It's possible that they won't be the early bird to catch the AGI worm, but sometimes the investment squeeze required to be the first mover isn't rewarded in market juice, especially if the second mouse can use your AGI to create their own AGI cheese.