Arena CEO: 70% of Neolabs Will Die | There Will be a $100BN US Open-Source Model | Data is a Trillion $ Market

Anastasios Angelopoulos is the co-founder and CEO of Arena, the real-world evaluation platform that has become a leading referee of the global AI model race. Arena has raised $250 million, with the latest round valuing the company at $1.7BN. Arena recently surpassed $100M ARR just eight months after launching its enterprise offering, powered by more than 30 million monthly users.

In Today's Show We Discuss:

• "Kimi beat every American model": What Nobody Wants to Admit…

• Is this the true commoditization of models? Are they just a utility layer now?

• Do Chinese open source models cannibalize the closed frontier labs?

• Why has America's open source community lagged so badly behind China?

• Will Chinese models be banned in the US — and does hosting locally really kill the backdoor risk?

• Are enterprises really terrified of working with the frontier labs?

• Why hasn't inference got cheaper — and what happens when Anthropic's "disgustingly high" margins go public?

• Who should decide if a model is safe to release: the government, a neutral body, or nobody?

• Are we about to see cyberattacks like we've never seen before? (The fake candidate who passed every interview)

• 75 Neo labs: what separates the winners from the two-thirds worth nothing?

• Is data actually a commodity — and can data providers be $100BN companies?

• Can you be the referee when the players are paying you? (And Arena's real revenue)

• Will the model providers eat the application layer? Are Harvey, Lagora and Figma in trouble?

• Why hasn't NVIDIA bounced on the rise of open source, who hits $10 trillion first, and does the compute debt cycle end in insolvency?