The future of frontier intelligence is specialized, private models built on proprietary enterprise data, not a single generalized AGI model, because most of the world's data is private and never used to train general models.
Lin Qiao argues that because the vast majority of the world's data is private and locked inside enterprises, the real frontier of intelligence is specialized, private models built on that data rather than one generalized AGI. ✦ AI generated
Lin Qiao · 20VC · 2026-07-20 · original ↗
starts at this moment · 4:23
“Why is that a valuable part of the stack and not a commodity?”
If you think intelligence is a derivative of data, then majority of the data is actually not used for training a general intelligence model. The training data is coming from public internet and the label data. Public internet is very small corpus of data compared with words data. Majority of words are actually private locked inside application locked inside enterprise.
verbatim transcript · starts at 4:23
4:23that provided by French apps wouldn't that be much easier. So the argument is the following. If you think intelligence is a derivative of data, then majority of the data is actually not used for training a general intelligence model. The training data is coming from public internet and the label data. Public internet is very small corpus of data compared with words data. Majority of words are actually private locked
4:59inside application locked inside enterprise it will never get shared with anyone else because this is company's proprietary IP so so then it's interesting if you look at the space then becomes very interesting because majority of data is not being activated to derive any intelligence and that's where we believe in is is to activate that data and we believe the future of the frontier of the intelligence actually private intelligence are
5:27specialized intelligence. So that's kind of where fire was from the beginning we have been focusing on driving the value. >> I have so many questions to ask you. I totally understand you in terms of the values in private data within some of these largest companies. Is that not the premise of what anthropics enterprise business is though with claw co-work and with a lot of their adjacencies that
5:50they're building? Would Dario not say that that's exactly what we're going after? That's interesting because I view Anthropic as a company fully believe in AGI. The definition of AGI is there's this one model that can solve all the problem in the best way. That to me that's the definition of AGI. To me that means you do not need to specialize and that one model should be able to solve all the
6:18problems. is so intelligent have so much knowledge of every parts of um of the businesses every parts of the jobs it can it can it can fulfill then why do you need to bother specialize so so that itself is a validation that we're living in a world that's not ruled by one principle we are living a fully diversified ified world. Give you one example, right? Different region will have different
- ·Most world data is private, not public internet
- ·Public internet is a small corpus by comparison
- ·General AI models train mainly on public + labeled data
- ·Majority of data stays locked inside enterprises
- ·Frontier intelligence won't be one generalized AGI
- ·Instead: specialized models built on proprietary data
- ·Enterprise-locked data is the untapped advantage
- ·Private data access becomes the key differentiator