Benedict Evans Essays · Jul 9, 02:15 PM UTC
Ways to think about token pricing
Historical operation · Retained
“In theory, you can model this bottom-up. You can make some assumptions around each of the variables I suggested above, and then try to model out how many chips there are now, how many chips with what performance TSMC and the rest of the sem”
Quoted source · Benedict Evans · 2 source segments
- [1] Benedict Evans Essays
- [2] Benedict Evans Essays
Model assessment
The transcript provides a market-framework analysis of AI economics. While it explicitly names TSMC and notes its 'de facto monopoly on the frontier' and 'nice margins' (segment 16), it does so only as a historical analogy to illustrate a possible future for foundation models. The author explicitly states that analogies 'don't have predictive value' (segment 17) and that the future could see a 'wide range of possible outcomes' (segment 18). There is no forward-looking catalyst, no assessment of TSMC's future prospects, and no directional implication for the target. The content is a general industry observation, not actionable evidence for a BUY or SELL.
2 exact transcript citations