The Latest
The unbundling of the budget app. Why a conversational finance surface absorbs what the personal-finance apps charge for, and what survives the absorption.
OpenAI’s ChatGPT launches a personal-finance surface, disrupting traditional budget apps by absorbing commodity functions, leaving high-trust services intact.
The cleaner cap table. Why Anthropic’s public-benefit structure dodges OpenAI’s charitable-trust problem — and trades it for a governance question of its own.
Examining how Anthropic’s mission-oriented trust structure avoids OpenAI’s conversion issues, yet introduces different governance challenges in public markets.