⚠️Why didn’t the hyperscalers wait until after the IPO in switching to using charging? my guess is that *they literally could not afford to* —because it would bankrupt them. My reasoning: in “all you can eat” agent era they were hemorrhaging money. So the hyperscalers probably had to choose between hemorrhaging insane amounts of money (with tokenmaxxing) and reducing usage and customer enthusiasm (by increasing rates). They would eat another 6 months of all you can eat if they could to establish market appetite– but they just can’t. Conclusion: They just don’t have enough cash. Despite the possibility of giant IPOs, their financial situation is shaky.