An investor calls intelligence per dollar the only score that matters

Claim

Gavin Baker called cheaper open models net positive for every layer except the two labs with the fattest margins, because intelligence per dollar is the only score that matters, adding that the one reprieve is a superior product or a secret head start toward recursive self-improvement.

Reporting date: 2026-07-18 (not necessarily the event date)

Sources

Attribution and reporting linked by this record; links do not imply independent verification.

• Welcome to July 18, 2026 (theinnermostloop.substack.com)