소규모 플레이어의 시가총액에 영향을 미치는 LLM 추론 비용에 대한 생각

This is a real risk. If you're building a business solely on another company's foundation model, your margin is essentially their cost + a premium. Unless you can differentiate beyond just the wrapper, that's not a sustainable long-term play for significant market cap.

That's a really interesting point about the 'wrapper' companies. I've been wondering if the cost of actually running these models will become a competitive moat in itself, favoring those with deeper pockets or proprietary hardware access.

That's a really sharp observation. It makes me wonder if we'll see a natural selection process where only the most well-capitalized or those with proprietary optimizations can afford to scale, effectively creating a barrier to entry for smaller players relying solely on APIs.