"trillion dollar businesses, built on commodities"

Which ones? I'm looking at the list of companies with > $1T market cap and none of them have commoditized markets. Instead, they all have huge network effects (Apple), enormous legacy lockin (Broadcom), a religious monarchy (...), or are some of the only people on the planet who can do what they do (nvidia, tsmc).

Mind you, there's lots of _billion_ dollar businesses in commoditized or partially commoditized markets. But Anthropic as a billion dollar business is sunk.