My first open model lecture, covering all the many pieces that build the ecosystem, and the open questions/debates determining where it goes next. How does distillation fit in? How do we manage risks? How do we see access to models changing in the future? I'm excited to revisit these questions about every 6 months, to give a state of the union on the field. Chapters 00:00 Introduction 01:36 What is an open model? 08:47 Why should we care about open models? 18:52 How competitive are the best open models today? 25:28 How are open models built? The role of distillation 34:52 Are people actually using open models? 41:47 What comes next with open models? 47:32 Conclusions What questions did I not answer that you have?