Everyone’s going on about how smart Leopold Aschennbrenner is (or was). But 1. He obviously didn’t know anything at all about risk managemen…

Everyone’s going on about how smart Leopold Aschennbrenner is (or was). But 1. He obviously didn’t know anything at all about risk management. (Or arrogantly chose to disregard whatever he might have been told). He also worked for a while for SBF which I see as perhaps a second error in judgement. 2. He completely failed to factor in what might happen if LLMs turned out to be commodity, even though people like me warned for years that would likely happen. 3. So far all the rise in the LLM industry has been on hope, rather than actual return for the LLM companies. His fund’s biggest remaining hope is their chunk of Anthropic, but it is still unclear whether Anthropic can find a sustainable business model. LA/SALP certainly made big, bold bets, and some of them were golden in the short-term, until they weren’t. Whether they were correct long term (aside from his recently being squeezed) remains to be seen.

Source: Gary Marcus (X) | 2026-07-31