Unless an AI company masters a physical bottleneck that is difficult for everyone to access, the long-term fate of most AI players will be similar to that of long-distance telephone companies in the past: constant price wars, with most eventually going bankrupt. The surviving players will struggle on meager profits, afraid to raise prices. Perhaps some clever individuals will discover a new business model, offering the various intelligent services currently provided by LLM at virtually zero cost, but making money elsewhere.