“If you are catching up to the frontier, you can do it a lot more capital efficiently”

Misha Laskin, Reflection AI · No Priors: Artificial Intelligence | Technology | Startups · Beam: The Great American Open Model with ReflectionAI Co-Founder and CEO Misha Laskin

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What was described

argued that open-weight models can be built with far less capital than traditional frontier labs once you have strong talent and efficient infrastructure

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“You’ll get the base level of 15%, but then you’ll get the 33% discount on the 15%. So it comes down to about 10% on capital gains, which is far less than what the government's proposing of the minimum of 30%”
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“We have a bunch of fine-tuned models ourselves too… making us more innovative… couldn’t do with the frontier models because of cost and efficiency reasons”
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“That's where you generally want your high growth potential, but tax efficient. So maybe if you own any stock index funds, things of that nature to benefit from the long-term capital gains. Tax deferred accounts, that's usually less tax efficient, but maybe lower return potential”
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“I have eight different local models, open weight models running right now in my house, in my attic... they all have personas. My most recent is GLM-5.3 persona.”
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