Is AI Profitable?

Benny & The Squirrel Ep. 76 - LLM Tokenomics +OpenAI/Anthropic Deep Dive

Episode 74 was recorded at 6.00pm EST on Sunday 9th August, 2026.

In this episode we take a deep dive on the tug-of-war between market driven price cuts and innovation driven cost cuts and take our first shot at valuing the two LLM frontier lab companies that are driving the entire AI supply chain in equity and credit. These two mega IPOs lie on the horizon and there is alot of capital and hopes resting on the shoulders of Sam and Dario.

Paying subs get access to the entire LLM Tokenomics deck Benny created and Rupert’s full valuation models that he put out on OpenAI and Anthropic. Enjoy!

The show has expanded on the socials! Follow us on Instagram and / or TikTok (if you do that kind of thing!)

https://www.instagram.com/benny_and_the_squirrel/

Benny & The Squirrel (@bennyandthesquirrel) | TikTok

Quick housekeeping note. Several subscribers are not YouTube fans and have asked for an audio edition of Benny & The Squirrel to be available on the podcast apps. This is now possible, please sign up at Benny & The Squirrel | Substack and then connect your favorite podcast app in ‘Manage Settings’ (see below). Eventually we will move things over there as we continue to grow but for now this can provide listeners looking for audio only an option.

Full show notes (containing the slide deck and pod summary) will continue to come to your inbox from the Blind Squirrel Macro feed. You can disable the ‘extra’ email - again via the ‘Benny & The Squirrel’ ‘Manage Settings’ page.

Become a paid subscriber to get full show notes, the episode slide deck, access to my AI Capex Monitor real time website and my Whatsapp channel chat that includes many PMs, traders, and investors alongside my subs as well as LPs where I share a morning summary of the markets, random trades I put on that I find interesting, research, and market color. There is often very interesting discussion that occurs on there among professional investors.

Episode Slide Deck (Below Paywall)