"Until we run out of problems, we're not going to run out of demand." Erik Torenberg, Martin Casado, Ben Horowitz, and Raghu Raghuram on why AI demand has no ceiling, and what that means for supply: "As we've moved from chatbots to reasoning to agents to multi-agents, each step has multiplied the number of tokens a single task takes up by increasing orders of magnitude." "The simple way to think about it is any problem that you have can be solved with enough infrastructure and money. GPUs and power, and money." "AI's answer to getting better and better is to use more AI. Inference is one basic building block that it keeps using over and over and over again." "In the past, money would come in, you have an engineering problem, we know that it takes two years, normally fails... [Now] there's nothing between the money going in and then the hardware creating intelligence. And so now we're just limited by our ability to create supply." @martin_casado @bhorowitz @RaghuRaghuram @eriktorenberg(a16z)