This may be a hugely unpopular opinion, but I don’t think it should be legal to sell a product at a loss, except maybe in clearance situations. Like you should be able to sell a product for $100 then use $1 million investment to develop a new process, then sell for $80 with the cheaper process, but not sell for $80 while the cheaper process is being developed.

Anthropic in the latest fundraise announce their gross margins are around 60%. Typically in the industry now, the gross margins are reported as revenue - cost of only serving paid users (free users etc. go in either cac or r&d). The thing is, with this margin, Anthropic can serve 2.5x more tokens than say cursor without making a loss for the same price compared to cursor. This reality is likely going to hit other startups based on the same assumption too. Anthropic has not reduced its pricing in almost a year now.