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🤖 Pre-training scaling laws still hold — Colossus and Grok 3 are the proof

Gavin Baker argues the 'we're hitting a wall' debate had no data because nobody had built a cluster past ~32,000 H100s. Elon's Memphis Colossus made 100,000+ hoppers coherent (going to 200k, then a million), so Grok 3 is the first real test of training scaling laws since GPT-4 and he expects it to be a significant advance in the state of the art. Friedberg adds new scaling axes — networks of models, test-time compute, context window — so capability keeps buying out of compute and the compute demand curve keeps compounding.

0 CONVICTION
peaked 49.8 WATCH
EMBER
band · contested
▲ LONG NVDA
expression · bullish tech
RIGHT
result · return +31.4% · vs SPY +16.7%
2025-12-07
born 2024-12-07 (E206) → window closed
⚠ CONFLICTING IDEA ON THE SAME TICKER — the board is arguing with itself; net it out (ticker view →)
NVDA · Nvidia risk: special-purpose silicon + Huawei SHORT DORMANT 1.9

other ideas on the same ticker, same direction: AI compute capex supercycle has 12-24 months of runway 86 (NVDA) · Nvidia + Hugging Face makes NVDA the open-source AI champion 55 (NVDA) · The AI doomer campaign fails — no FDAI, open source survives 31 (NVDA)

⚖ Why this result

fully deterministic — computed from daily closes on the scoring date; nothing below is editable or hand-set

  1. Window: 2024-12-07 → 2025-12-07 — first mention + 12-month horizon, then the window locks.
  2. The call: ▲ LONG NVDA (primary play). NVDA rose 31.4% over the window → return (sign flipped for a SHORT) = +31.4% (the call made money).
  3. Benchmark: holding SPY over the same window returned +14.8% → vs SPY = +31.4 − (+14.8) = +16.7% — what this call made or lost against just owning the index. This is the number the result uses.
  4. Rule fired:
    ▶ RIGHT — return ≥ +10% AND beat SPY by 5+ ✓ (return 31.4, vs SPY 16.7)
    · HALF — return ≥ +5% OR beat SPY at all
    · WRONG — everything else
  5. Credit: supporters of a RIGHT earn 1.0 each, opposers the opposite — this feeds the scoreboard. supported: Chamath, Friedberg, Gavin Baker, Travis Kalanick | opposed: Jason, Keith Rabois

Conviction timeline

bands: green ≥ 65 · watch ≥ 45 · ember ≥ 15

Plays vs SPY · % since first mention (2024-12-07)

Plays

expressionsymbolkindrelevancerationale
▲ LONG NVDAstock PRIMARY training-cluster GPUs and NVLink/NVSwitch networking are the direct expression of scaling laws holding
▲ LONG AMDstock adjacent second-source accelerators pulled along by continued cluster scale-up
▲ LONG AVGOstock adjacent custom ASICs and networking silicon named as the next tick of cluster scale

Mention log newest first

Gavin Baker
Gavin Baker (regular guest ×1.0) tech 73% · n=13 · E238 (2025-08-09) · explicit_prediction · strength 2 ▶ 11:43 SUPPORT
“But this is the first time they have not released a model that was a decisively better. And the progress for Grok 4 was exceptional. Grok 5 is coming soon, you know, they have more.”
Gavin Baker
Gavin Baker (regular guest ×1.0) tech 73% · n=13 · E236 (2025-07-19) · explicit_prediction · strength 3 ▶ 20:18 SUPPORT
“So this is incredible progress. And I think it's worth mentioning, this model was trained on Hopper. So this model is probably about as far as you can take the last generation of Nvidia GPUs. The next models we see, you know, Grok 5, you know, O5 from OpenAI, whatever they're going to call the next Gemini. They will be trained on Blackwell. And I think that will be a really big step function.”
Keith Rabois
Keith Rabois (regular guest ×1.0) tech: 4 resolved, unproven · E235 (2025-07-11) · sentiment · strength 2 ▶ 46:04 OPPOSE
“That's the global lesson, by the way. Chamath, you're totally right. Conceptual, the blog post is right. But that's only true when you have enough data and depending upon the use case, the level of data you need may not be possible for years, decades, and you may need to hack your way there through human interactions.”
Travis Kalanick
Travis Kalanick (regular guest ×1.0) tech 67% · n=6 · E235 (2025-07-11) · explicit_prediction · strength 2 ▶ 36:11 SUPPORT
“If you get, if you have an LM or foundational model of some kind that is the best in the world of the scientific method, game the F over. You basically, you just light up more GPUs and you just got like a thousand more PhD students working for you.”
Chamath
Chamath tech 45% · n=84 · E235 (2025-07-11) · explicit_prediction · strength 3 ▶ 20:39 SUPPORT
“So why is this crazy? Well, he made this huge bet on this 100,000 GPU cluster. People thought, wow, that's a lot. Is it going to bear fruit? Then he said, no, actually, I'm scaling it up to 250,000. Then he said it's going to scale up to a million. And what these results show is a general computational approach that doesn't require as much human labeling, can actually get to the answer and better answers faster.”
Jason
Jason tech 53% · n=56 · E218 (2025-03-08) · sentiment · strength 2 ▶ 1:24:30 OPPOSE
“Let's talk about this ChatGPT. I guess they came out with 4.5. It was such a dud. I didn't even realize that they launched it.”
Chamath
Chamath tech 45% · n=84 · E218 (2025-03-08) · sentiment · strength 1 ▶ 6:45 OPPOSE
“Open AI dropped GPT-45, and I think it was not really that well received.”
Jason
Jason tech 53% · n=56 · E216 (2025-02-21) · sentiment · strength 1 ▶ 1:29:36 SUPPORT
“It's super consequential. I mean, complete agreement with Chamath”
Chamath
Chamath tech 45% · n=84 · E216 (2025-02-21) · explicit_prediction · strength 3 ▶ 1:19:36 SUPPORT
“I mean, basically what he proved was that there are still valuable gains in pre-training, and so the larger the cluster, the more value that there is... My first takeaway was I was sneakily surprised on the pre-training upside on having a larger cluster. So I think that that's very pro-NVIDIA actually, and it's actually also just really good in general for foundational model makers.”
Chamath
Chamath tech 45% · n=84 · E210 (2025-01-11) · sentiment · strength 2 ▶ 1:25:55 OPPOSE
“Yeah, I guess the point is, a toy to do what? Because if you're trying to do inference, like everything is telling us that we are reaching the limits of training.”
Chamath
Chamath tech 45% · n=84 · E208 (2024-12-20) · sentiment · strength 2 ▶ 58:57 OPPOSE
“If you listen to Ilya Tsutskever, if you listen to Andrei Karpathy, what they effectively are saying is there's this terminal asymptote that we're seeing right now in model quality.”
Friedberg
Friedberg tech 55% · n=66 · E206 (2024-12-07) · sentiment · strength 2 ▶ 58:46 SUPPORT
“I think it's a new kind of scaling access arguably in terms of the potential set of applications. So networks of models, think time, context window. There are multiple dimensions upon which these tools ultimately kind of resolve to better performance”
Gavin Baker
Gavin Baker (regular guest ×1.0) tech 73% · n=13 · E206 (2024-12-07) · explicit_prediction · strength 3 ▶ 54:45 SUPPORT
“But you have not had a real test of scaling laws for training, arguably since GPT-4. And this will be the first test. And if scaling laws for training hold, Grok 3 should be a significant advance in the state of the art”

Who built this conviction

each voice's total push on the score, in conviction points across every mention — supports and opposes · share = % of all mention-driven movement

Chamath
Chamath 45%
5 scoring events · 37% of moves
+32.6 / -33.6 → net -1.0
Gavin Baker
Gavin Baker 73% regular guest ×1.0
3 scoring events · 24% of moves
+42.4 → net +42.4
Jason
Jason 53%
2 scoring events · 14% of moves
+13.3 / -12.0 → net +1.3
Friedberg
Friedberg 55%
1 scoring event · 10% of moves
+17.8 → net +17.8
Travis Kalanick
Travis Kalanick 67% regular guest ×1.0
1 scoring event · 9% of moves
+16.8 → net +16.8
Keith Rabois
Keith Rabois regular guest ×1.0
1 scoring event · 7% of moves
+0.0 / -12.0 → net -12.0

⏳ decay drained -38.4 over the idea's life — that's time passing, attributed to no one

Score events

episodekindΔafternote
E206 2024-12-07 init +21.0 21.0 E206 born by Gavin Baker (explicit_prediction x3) [w=0.50]
E206 2024-12-07 reinforce +17.8 38.8 E206 Friedberg support x2 (new voice)
E207 2024-12-13 decay -1.6 37.2 E207 silent
E208 2024-12-20 oppose -12.0 25.2 E208 Chamath opposes x2
E209 2025-01-04 decay -1.0 24.2 E209 silent
E210 2025-01-11 oppose -12.0 12.2 E210 Chamath opposes x2
E211 2025-01-18 decay -0.5 11.7 E211 silent
E212 2025-01-25 decay -0.5 11.3 E212 silent
E213 2025-01-31 decay -0.5 10.8 E213 silent
E214 2025-02-07 decay -0.4 10.4 E214 silent
E215 2025-02-15 decay -0.4 10.0 E215 silent
E216 2025-02-21 reinforce +16.2 26.2 E216 Chamath support x3 (flipped from oppose)
E216 2025-02-21 reinforce +13.3 39.5 E216 Jason support x1 (new voice)
E217 2025-03-01 decay -1.6 37.9 E217 silent
E218 2025-03-08 oppose -9.6 28.3 E218 Chamath opposes x1
E218 2025-03-08 oppose -12.0 16.3 E218 Jason opposes x2
E219 2025-03-15 decay -0.7 15.6 E219 silent
E220 2025-03-22 decay -0.6 15.0 E220 silent
E221 2025-03-29 decay -0.6 14.4 E221 silent
E222 2025-04-05 decay -0.6 13.8 E222 silent
E223 2025-04-11 decay -0.6 13.3 E223 silent
E224 2025-04-19 decay -0.5 12.7 E224 silent
E225 2025-04-26 decay -0.5 12.2 E225 silent
E226 2025-05-02 decay -0.5 11.7 E226 silent
E227 2025-05-09 decay -0.5 11.3 E227 silent
E228 2025-05-17 decay -0.5 10.8 E228 silent
E229 2025-05-24 decay -0.4 10.4 E229 silent
E231 2025-06-13 decay -0.4 10.0 E231 silent
E232 2025-06-21 decay -0.4 9.6 E232 silent
E233 2025-06-28 decay -0.4 9.2 E233 silent
E234 2025-07-04 decay -0.4 8.8 E234 silent
E235 2025-07-11 reinforce +16.4 25.2 E235 Chamath support x3 (flipped from oppose)
E235 2025-07-11 reinforce +16.8 42.1 E235 Travis Kalanick support x2 (new voice)
E235 2025-07-11 oppose -12.0 30.1 E235 Keith Rabois opposes x2
E236 2025-07-19 reinforce +12.6 42.6 E236 Gavin Baker support x3
E237 2025-08-01 decay -1.7 40.9 E237 silent
E238 2025-08-09 reinforce +8.9 49.8 E238 Gavin Baker support x2
E239 2025-08-15 decay -2.0 47.8 E239 silent
E240 2025-08-22 decay -1.9 45.9 E240 silent
E241 2025-08-29 decay -1.8 44.1 E241 silent
E242 2025-09-07 decay -1.8 42.3 E242 silent
E243 2025-09-19 decay -1.7 40.6 E243 silent
E244 2025-09-27 decay -1.6 39.0 E244 silent
E245 2025-10-03 decay -1.6 37.4 E245 silent
E246 2025-10-10 decay -1.5 35.9 E246 silent
E247 2025-10-17 decay -1.4 34.5 E247 silent
E248 2025-10-24 decay -1.4 33.1 E248 silent
E249 2025-10-31 decay -1.3 31.8 E249 silent
E250 2025-11-07 decay -1.3 30.5 E250 silent
E251 2025-11-14 decay -1.2 29.3 E251 silent
E252 2025-11-22 decay -1.2 28.1 E252 silent
E253 2025-12-06 decay -1.1 27.0 E253 silent