Why AI Labs May Be Subsidizing Themselves Into a Revenue Crisis
12 Jun 2026 · 31:53
Delphi Ventures founding partner and Delphi Digital co-founder Tom Shaughnessy joins Unchained host Laura Shin to unpack a subsidy gap between consumer AI subscription pricing and enterprise API costs that is pushing businesses toward cheaper open-source inference. They discuss what public listings will reveal about OpenAI and Anthropic ahead of an AI IPO wave, competition from Chinese open-source models, and how crypto projects like Nous Research, Venice, Grass, and Ambient use token incentives to fund open AI infrastructure.