I'm quibbling that Anthropic has loss leaders and that its profit leaders are extremely unstable. Imagine if there were three Chinese club stores in the same shopping plaza as the Costco. Sure, the regular Costco has the best products, but how long are you going to be able to resist the allure of even cheaper hot dogs?

> quibbling that Anthropic has loss leaders

This is a silly quibble.

> and that its profit leaders are extremely unstable

This is a fair one! Claiming Anthropic’s “subscriptions are heavily subsidized” is not.

The metric we need to question stability is churn rate.