Meta Muse vs Instinct vs OpenAI Dots: Do AI Agents Have Any Moat?

Podcast: More or Less · Dave Morin, Jessica Lessin, Brit Morin, and Sam Lessin

Opublikowano: 2026-10-02

Anthropic's S-1 leaked and the numbers are not what the narrative promised: revenue flatlining as token prices drop, and SaaS investors posting memes welcoming Anthropic to the no-growth table. Jess still puts it at 60% they get out in November, which looks optimistic in a week when Oura pulled its IPO and blamed market conditions. Sam's problem with the core business is simpler than any of it: he runs Claude as the center of his infrastructure, and if it vanished tomorrow he'd care for about one second. Dave spots the strategy mishap nobody is naming, where forward deployed teams built...