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Will OpenAI and Anthropic’s S1s be a “massacre” for AI model companies?

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Ed Zitron claims in a recent interview that Anthropic and OpenAI are unable to measure the ROI associated with their products. he goes on to say:

“When it comes to the model companies they are horrifyingly, horrifyingly unprofitable.
I think OpenAI lost twenty-something billion last year.
Anthropic's probably not far behind that..
That’s the thing — when we see these S1s I think it is going to be kind of a massacre, because I think that people have this view that these companies are becoming more profitable or even have a path to profitability, and they don’t have one”
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