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Lets conduct a thought experiment.

Imagine ChatGPT is only accessible via Membership in a hypothetical OpenAI community.

There are only 10 million Memberships. They can be bought / sold on the open market.

How much would people pay for a Membership?

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What if there was a way to remove the ability to speculate and Membership pricing is on a bonding curve ?

The hard cap would bring in a ton of speculators so I can imagine it being $10k+

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10 million memberships is quite small. They’d probably initially sell for $500 or more. Then once the launch of an open market, the numbers may go off the roof. Maybe $5k or more

For me i’d say about $1,000 to $5,000, and all this would be influenced by utility, scarcity and market demand.

Tbh I think people would still only pay $20. This isn't a situation where you calculate supply and demand, this requires the context that there are a million other open source AI models, and some other company would 100% market themselves as the solution to chat gpt's hypothetical supply problem, and investors would see the current ucapped supply price point as a psychological resistance, resulting in a bunch of sellers panicking and lowering the price of a membership to mere dollars.