> The large gap between OpenAI’s $852-billion valuation and Anthropic’s $380 billion has investors rushing to grab equity in the latter before it rises, according to Augment co-founder Adam Crawley.

Interesting, so there are a lot of people still eager to invest in valuations of well greater than a-quarter-trillion, but OpenAI's latest raise has sucked up all the oxygen for enthusiasm of that valuation going even higher.

Which could be a "dumb money" move ("competitor number lower, already-big-number is scary") or a "smart money" move ("Anthropic is gaining position-wise, and currently is lower valued, let's bet on the one we think is better positioned") or some mix of both.

OpenAI just raised a shit-ton so clearly there is plenty of money out there who don't think there's a bubble or even a blown opportunity there. But the wider community doesn't think they have the competition in the bag, while still being willing to invest in big-AI-cos at absolutely enormous valuations.

If local hardware/models get good enough to take 80%-90% of what people use subscriptions for today... hoo boy. Big-AI is a bet I wouldn't be confident placing billions on. Unless your horizon is more "wait for IPO or next raise or positive news, then get out ASAP" than "hold for 5+ years."

I think a lot of people assume that the "name" of the type, for protos, will be preserved somewhere in the output such that a TreeRoot couldn't be re-used as a KeyRevoke. It makes sense that it isn't - you generally don't want to send that name every time - but it's non-obvious to people with a object-oriented-language background who just think "ah, different types are obviously different types." The serialization cost objection is generally what I've often seen against in-bound type fields and such, as well, so having a unique identifier that gets used just for signature computation is clever.

What's over my head possibly, from skimming it, about your multiset hashing is how it avoids the "these payloads have the same shape, so one could be re-sent as the other" issue? It seems like a solution to a different problem?