Some evening/morning reading re: the pace of change in AI, and how Tier-1 backed companies (by Sequoia) are affected/influenced by LLMs. Short answer: strongly

Other TL;DR pieces:

• The new stack for language model applications revolves around language model APIs, retrieval mechanisms, and orchestration, with increasing usage of open-source tools
• Customization of language models to specific contexts is desired, and there are three main approaches: training a custom model from scratch, fine-tuning a base model, or using a pre-trained model with relevant context retrieval
• The stack for language model APIs and custom model training is expected to converge over time, driven by increased interest and open-source development
• The stack is becoming more developer-friendly, enabling easier development and deployment of language model applications
• Multi-modal applications combining text, speech, and image generation are emerging as an exciting trend