> subscription gross margins are way lower than API and meaningfully reduce revenue per MW for both OpenAI and Anthropic
I don't know about everyone else, but there is no way in hell I would pay even $200 for API-priced tokens for personal use. So at least for my sample size of one, Anthropic's revenue would not be higher if they dropped their subscription plan (they would get $0 from me instead of $200 per month).
I don't know about everyone else, but there is no way in hell I would pay even $200 for API-priced tokens for personal use. So at least for my sample size of one, Anthropic's revenue would not be higher if they dropped their subscription plan (they would get $0 from me instead of $200 per month).