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AI's 3 big narrative violations — 7/2/2026
Posted
July 2, 2026
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July 2, 2026
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52:39Now PlayingThree things the market believed about AI broke this week.
One: you have to own the model. The whole race was about building the best frontier AI — until Meta this week said its building a cloud business to sell off its excess computing power. The stock jumped. The message: maybe the money was never in the model, especially as this layer commoditizes. Investor Dan Niles joins to break down what Meta's move means for the whole AI trade.
Two: AI is coming for jobs. New data from Ramp and Revelio Labs — covering more than 21,000 US companies — cuts against the story everyone expected. The firms spending hardest on AI aren't shrinking their headcount. They're growing it. Ara Kharazian, lead economist at Ramp, and Garrett Lord, CEO of Handshake, on what the jobs data actually shows and whether it holds.
Three: open source can't make money. The assumption was that giving your model away for free meant no business. That's breaking too, as open-model companies start posting real revenue and enterprises move from renting AI to running their own. Vipul Ved Prakash, CEO of Together AI, and Clément Delangue, CEO of Hugging Face, on where the money goes when the best models are cheap and open.
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AI's 3 big narrative violations — 7/2/2026
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