Martin Casado, head of Andreessen Horowitz’s AI fund, argues that building AI models is easier than ever, likening the wave to an industrial revolution that compresses time and value.

Casado points to a $3 trillion software‑developer market and the rapid turnover of AI models—lasting three to six months—highlighting how capital outstrips technology speed.

He warns that the industry’s current cheap‑money cycle will shrink once large labs can no longer attract funding, forcing value to flow downstream into niche applications and smaller models.

The conversation underscores that, for investors, exposure to both large‑scale labs and downstream startups is essential to capture the shifting upside.