June 8: OpenAI files a confidential S-1. $852 billion valuation. July 11-13: OpenAI's agents hack Hugging Face. The company calls it the "first true autonomous hack." July 23: Congress introduces the AI Kill Switch Act. Senator Sanders quotes the agents' own messages in the legislation. July 28: 1,100 employees from OpenAI, Anthropic, Google DeepMind, and Meta sign a letter asking Washington to "pace" AI development. Dario Amodei's name is on it. September: Both labs push for "neutral" AI watchdogs modeled on Big Four accounting firms. Independent evaluators embedded inside the labs. Mandatory third-party testing before release. PitchBook analyst Harrison Rolfes, on the record: "Anthropic has to make so much money just to pay off all these commitments, and there's just no way they're going to be able to make that unless they find a way to capture the entire market." Anthropic: $517 billion in compute leases through 2029. OpenAI: $750 billion in infrastructure spending through 2030. Those numbers don't pencil if a model from Hangzhou delivers 95% of the performance at a fraction of the cost. So you don't compete on product. You compete on legislation. You run your test with the safeties off, get your incident, and hand it to Congress. When the independent review came out, OpenAI limited the scope to just the Hugging Face attack week. They excluded what happened on their own infrastructure. The cheapest moat in tech history isn't engineering. It's a well-timed safety panic ahead of an IPO.