In plain English
The economics are the point. Training one is enormously expensive, so a small number of organisations train them and everyone else adapts them through prompting, retrieval or fine-tuning.
That is why almost nobody builds a model any more. The sensible question is which foundation model to build on, and how to supply it with your own knowledge.
What to know
Why it matters
Understanding this shapes strategy. Your defensible asset is not the model, which anyone can rent. It is your data, your workflows and the judgement encoded in how you use it.
Common mistakes
FAQs
Foundation model or LLM?
An LLM is a foundation model for language. The term also covers image and multimodal models.
Should I fine-tune or use retrieval?
Retrieval first, almost always. Fine-tuning is for behaviour and format, not for knowledge.
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