20VC x SaaStr This Week: Anthropic Hits 70% Margins, OpenAI Files Its S-1, and Nvidia Yawns at $58B (opens in new tab)

We did the 20VC x SaaStr episode this week with Harry Stebbings and Rory O’Driscoll, and by the end something funny happened. Every single segment, no matter where we started, collapsed into the same question: What is the right split between humans and tokens, and what happens to everyone on the wrong side of it?...