I don’t think he means “tokens” as in LLM input/output units here.

He just means it as in “credits”. “Fiat tokens” as in arbitrary units that are said to have value de facto by consensus, but don’t have any inherent value.

Yeah not the best choice of words in this context. And it’s quite a LessWrong-esque leap of reasoning.

But I do get the point: either Anthropic is successful and they transcend money, and thus (somehow) screw over their investors, or they are not successful. Their investors get screwed regardless.

Again, I don’t really agree with it, but it’s an intriguing point.