20VC: Are OpenAI and Anthropic Overvalued? The Open-Source AI Reality | How Token Costs Will Fall 10x And Usage Will Explode 100x | The Future Is Not One AGI; It's Millions of Specialised Models with Lin Qiao, Founder and CEO @ Fireworks

Lin Qiao is the Co-Founder and CEO of Fireworks AI, the leading specialized intelligence and AI inference platform that last week raised $1.5BN at a whopping $17BN valuation. With just 200 people, the company has hit $1BN in ARR and expects to hit $2BN before the end of the year. Prior to Fireworks, Lin spent several years at Meta including on the founding team of PyTorch. AGENDA: 00:07 — Why Did Fireworks Bet on Inference When Everyone Else Was Chasing Training? 00:13 — Can Open-Source Models Turn AI Infrastructure into a Commodity? 00:19 — Should Enterprises Trust Chinese Open Models With Their Most Sensitive Data? 00:25 — Will Model Progress Keep Moving This Fast—or Are We Nearing a Plateau? 00:28 — Will the Multi-Model World Create a $100BN Routing Layer? 00:37 — How Much Will AI Token Usage Explode Over the Next Two Years? 00:43 — Will Token Costs Fall 10x—and Unleash 100x More Demand? 00:49 — Does Fireworks Eventually Have to Build Its Own Data Centres? 01:02 — What Is the Real Bottleneck Holding Back the AI Economy?