Scaling laws describe how a model improves as you spend more on it.
The three inputs are parameters, training data and compute.
Plot loss against any of them on log axes and you get a straight line.
That regularity holds across many orders of magnitude, which is genuinely surprising.
It means a run costing millions can be predicted from a series of cheap small ones.
That predictability is what made the spending defensible to the people writing the cheques.
The three have to grow together, since starving one wastes the others.
The original guidance leaned heavily towards more parameters.
The Chinchilla work in 2022 rebalanced it, showing models were badly undertrained.
Roughly twenty tokens of training data per parameter turned out to be far better.
A smaller model trained on more data beat a larger one at the same total cost.
It is also cheaper to run afterwards, which compounds the win.
The curves describe loss, not usefulness, and those are not the same thing.
Improvements on the loss curve show up unevenly across actual tasks.
The laws also assume plentiful fresh data, which is the constraint now starting to bind.