I know what you’re quoting, but you've badly misread it.

Dario's point was the opposite of yours; he used per-model accounting to explain why the company P&L gets worse every year, not better. His own numbers (10x training costs each generation and ~2x revenue return.)…

"It looks like it's getting worse and worse" are his words, not mine.

In 2025, Anthropic's inference costs came in 23% over their own projections. They cut their gross margin forecast from 50% to 40%.