Tokenomics - the PegaSystems worldview as LLM providers come under fire from CEO Alan Trefler
I can't tell you how thrilled I am now that in the last six or seven weeks, this term ‘tokenomics’ has come out because in the early ‘free drugs’ days, which were, say, February, you never heard that.
A colorful, if accurate analogy from Alan Trefler, CEO of PegaSystems, on the burning topic of the day - the high price of tokens. Or perhaps, given all the anecdotes about enterprises flinching from being presented with the bill, the unexpectedly high price of tokens.
Perhaps they ought to have known better? Eyeing up “all these tokens that the LLMs are giving us for free”, Trefler admits:
I will confess, we were perhaps a little suspicious. We got more suspicious when they suddenly announced that they were going to build data centers for hundreds of millions of dollars - and then it was billions of dollars and with hundreds of billions of...
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