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Founder Eric Steinberger on Magic’s Counterintuitive Approach to Pursuing AGI
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Trust Builds Value, Not APIs
Accelerating development in engineering presents significant challenges but carries substantial financial implications, as it requires trust from stakeholders. Investments should not merely be pursued for enjoyment; they need to demonstrate tangible returns. Value primarily accumulates at the levels of artificial general intelligence (AGI) and hardware, rather than through application layers or APIs. If an API has the potential to generate immense revenue, it is more advantageous for companies to exploit that opportunity internally, as the competitive landscape demands keeping such innovations in-house.
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