Everyone appears surprised by this news. It’s clear that they don’t have a product with some incredible moat. But they clearly have good engineering and product people that came up with a product people wanted. On top of that they have very strong marketing muscle that took the AI world by storm. And as far as I’ve seen, they still lead in some part of the latency-quality (-cost) curve?
They may well be a good team to throw money behind if you are hoping to bet on a new AI lab.
> people that came up with a product people wanted
We've yet to see whether this is true, or is it just manufactured demand. There are dozens of Jev demos, but pretty much all of them are either cool but useless, or simply fake (i.e. harness doing 99% of the work).
since their release they surpassed 100M arr and 1/3 of the F500
its clear they own the mindshare around this type of primitive which is a massive premium
Measuring ARR based on 7 days of data is beyond stupid.
You can create a company with 2B shares and sell one share to your friend for $1000. Lo and behold, you own $2 trillion dollar company, leaving Elon behind.
Especially for a company still in their 15 minutes of fame that could very plausibly turn out to be a one hit wonder and a trivia question in two years.
Multiplying out revenue from the peak of their mini hype cycle while a dozen well financed competitors target them directly seems extremely optimistic.
They don't lead on latency nor quality; but their execution was superb
Who they trailing on quality?
I'm not the person you're asking, but:
https://benchmarkheaven.com/jev-models
According to this benchmark, Jev is currently trailing Quyet-1.0-Large and a few other hastily put-together LLM-based decision API-like setups.
And the 'better' ones are slower and cost more for a tiny bit more accuracy. Its hard to sell that as being better when speed and price have been JEVs main selling points.
The space of problems that require super low latency AND are inputting so many tens of billions of tokens that the price matters, is a tiny one.
The top alternative right now lists speed as faster than Jev?
Here's another leaderboard: https://huggingface.co/spaces/multimodalart/jev-decision-ind...
What even is this? What does it do?
The model itself is a negligible part of the valuation. The company is priced as an acquisition target.
Every startup is priced as an acq target
This is all due to 40% marketing, 50% execution and 10% credentials (with the founders being associated with creating ChatGPT).
If anyone else came up with the same concept on a Reddit thread (they have) it no-one would care without those characteristics even if you are "first".
Rebranding, execution, marketing, ex-<big_name_company> and mostly importantly, hype is what gets the investors scrambling into throwing money at you.
More like 10% 10% 80%.
Wonder if they can get coin flips and dice rolls to make sense with this fresh funding, or if it even matters to people.
I have no faith in the technique if it cannot do the basics (i.e. not real probabilities, the confidence for coin flip outcomes)
tried it a couple of days ago here: https://jevplayground.com
the "not real probability" disclaimer only appears after you get a result