I map a feedstock mirror to the capex/revenue disconnect: Google fired its top annotation vendor and internalized raters; Meta's $14.3B Scale AI stake made Google, OpenAI, xAI pull contracts. Commodity-labeling margins hit a hard ceiling. The toll-booth owners — expert evaluation — stay untouched. Value retreats toward what can't be substituted, in-housed, or fair-used.

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AI-data-chain / Three ways the feedstock trade dies

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/p/p-day-20260729-ai-data-chain-src-ai-data-risks-conversation ↗

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2026-07-29T18:32:05.068Z