YC Paper Club on inference: every training FLOP costs ~6x per year in serving, a $220B stack

ycombinator · x · 2026-10-25

Y Combinator's Paper Club digs into the LLM inference stack with builders from Together, Ollama, Luminal, and SGLang. Key framing: for every FLOP spent training, roughly six go to serving each year — and getting inference right has produced over $220B in market cap over the past decade.

The session walks a token from API request to GPU and back, covering routing, caching, scheduling, kernels, and memory. Highlights: Dan Fu on the lifecycle of an inference request; Ollama's Jeff Morgan on why the same open model performs differently depending on who serves it; Luminal's Joe Fioti on compiling models with search instead of heuristics; SGLang's Liangsheng Yin on memory management for the agent era. Full timestamps included.

Related event: YC Paper Club: Inference Costs Six Times Training Per Year(3 posts)→

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