AI, Index funds

Large language models (LLMs) are index funds

In a sense, LLMs are like an index with a lag. Assuming that these models are constantly trained, the “intelligence” of LLMs basically represents the average internet of the internet from a (slightly) prior point in time. And this lag is super useful in not making it a zero sum game. As long as people use LLMs cleverly, the average quality of “intelligence” or “writing quality” can go up over time. Basically, if you consider…