What is the first lesson in poker and how does it apply to the AI investment landscape?

If you think the other person is the mark, you are the mark. Karp is applying this to everyone involved in the closed AI model ecosystem. The enterprise clients think they are getting a deal on tokens. The investors think the enterprise clients are the mark and that OpenAI and Anthropic are going to extract all the value. But Karp's argument is that the investors themselves are the ones who have made a mistake driven by greed. They did not mind when IP was migrating from every business into an entity they owned. They did not think through the next step, which is that value then migrates to the government. That is the poker lesson playing out at a macro scale.