As someone who uses Claude Code daily for work, I fail to see how they lack a real product. It provides tangible value on a day-to-day basis, something my workplace is happy to pay for.
The more interesting questions aren’t about whether they have a real product (they do). It’s whether they can defend that product from competitors, such that their future revenues can justify the massive investments made.
The more interesting questions aren’t about whether they have a real product (they do). It’s whether they can defend that product from competitors, such that their future revenues can justify the massive investments made.