To point 1: While we greatly appreciate what OpenPhil, LTFF and others do (and hope to work with them in the future!), we found that the hurdles required and strings attached were far greater than the laissez-faire silicon valley VC we encountered, and seemed less scalable in the long run. Also, FTX FF did not exist back when we were starting out.
While EA funds as they currently exist are great at handing out small to medium sized grants, the ~8 digit investment we were looking for to get started asap was not something that these kinds of orgs were generally interested in giving out (which seems to be changing lately!), especially to slightly unusual research directions and unproven teams. If our timelines were longer and the VC money had more strings attached (as some of us had expected before seeing it for ourselves!), we may well have gone another route. But the truth of the current state of the market is that if you want to scale to a billion dollars as fast as possible with the most founder control, this is the path we think is most likely to succeed.
To point 2: This is why we will focus on SaaS products on top of our internal APIs that can be built by teams that are largely independent from the ML engineering. As such, this will not compete much with our alignment-relevant ML work. This is basically our thesis as a startup: We expect it to be EV+, as this earns much more money than we would have had otherwise.
Notice this is a contingent truth, not an absolute one. If tomorrow, OpenPhil and FTX contracted us with 200M/year to do alignment work, this would of course change our strategy.
To point 3: We don’t think this has to be true. (Un)fortunately, given the current pace of capability progress, we expect keeping up with the pace to be more than enough for building new products. Competition on AI capabilities is extremely steep and not in our interest. Instead, we believe that (even) the (current) capabilities are so crazy that there is an unlimited potential for products, and we plan to compete instead on building a reliable pipeline to build and test new product ideas.
Calling it competition is actually a misnomer from our point of view. We believe there is ample space for many more companies to follow this strategy, still not have to compete, and turn a massive profit. This is how crazy capabilities and their progress are.
I’m curious why you believe that having products will be helpful? A few particular considerations I would be interested to hear your take on:
There seems to be abundant EA donor funding available from sources like FTX without the need for a product / for attracting non-EA investors
Products require a large amount of resources to build/maintain
Profitable products also are especially prone to accelerating race dynamics
To point 1: While we greatly appreciate what OpenPhil, LTFF and others do (and hope to work with them in the future!), we found that the hurdles required and strings attached were far greater than the laissez-faire silicon valley VC we encountered, and seemed less scalable in the long run. Also, FTX FF did not exist back when we were starting out.
While EA funds as they currently exist are great at handing out small to medium sized grants, the ~8 digit investment we were looking for to get started asap was not something that these kinds of orgs were generally interested in giving out (which seems to be changing lately!), especially to slightly unusual research directions and unproven teams. If our timelines were longer and the VC money had more strings attached (as some of us had expected before seeing it for ourselves!), we may well have gone another route. But the truth of the current state of the market is that if you want to scale to a billion dollars as fast as possible with the most founder control, this is the path we think is most likely to succeed.
To point 2: This is why we will focus on SaaS products on top of our internal APIs that can be built by teams that are largely independent from the ML engineering. As such, this will not compete much with our alignment-relevant ML work. This is basically our thesis as a startup: We expect it to be EV+, as this earns much more money than we would have had otherwise.
Notice this is a contingent truth, not an absolute one. If tomorrow, OpenPhil and FTX contracted us with 200M/year to do alignment work, this would of course change our strategy.
To point 3: We don’t think this has to be true. (Un)fortunately, given the current pace of capability progress, we expect keeping up with the pace to be more than enough for building new products. Competition on AI capabilities is extremely steep and not in our interest. Instead, we believe that (even) the (current) capabilities are so crazy that there is an unlimited potential for products, and we plan to compete instead on building a reliable pipeline to build and test new product ideas.
Calling it competition is actually a misnomer from our point of view. We believe there is ample space for many more companies to follow this strategy, still not have to compete, and turn a massive profit. This is how crazy capabilities and their progress are.