Excellent post but while you definitely sound very well informed and provide solid backing for your claim “they won’t just invent a drug” it’s not very convincing. If I had to bet, I’d still bet on the new ai companies advancing pharmaceuticals more than hypothetical counterfactual non ai enabled pharma companies, putting aside political and financial constraints around that. It seems like you know the domain but knowing the domain is less important than knowing what is outside the domain viz a viz tech disruption. The general matters more than the specific sometimes.