My Android phone prevents me from recording phone calls at the request of my carrier, even though it's totally legal for me to do so in my jurisdiction.
I'm not loving where this is all going.
The capital itself isn't going to do anything sitting in the bank. It's used to procure a team of PhDs, an team of SWEs, DevOps, business people, HR, marketing, access to a GPU supercomputer (renting a couple of 5090s off Vast.ai ain't gonna cut it). For, say, $50 million, you could get the blueprints to an Android phone and port your choice of Linux userland and get drivers working, and then do a run of 20,000, sell them for $1100. Compared to training GPT5, $50 million is cheap. If we use an estimate of $1 billion for the whole thing, making a Linux phone running a hypervisor with an Android VM to run banking apps seems not-impossible. (Based on AVF.)
With a LLM, you can spend the money to develop the model, then spend some money marketing it, and if you get enough paying customers to cover your costs and a bit more then you're done. Done in the sense that you're now competing on the same level (roughly) as other LLM providers. Even if it's at a smaller scale, you can offer a similar product with similar features.
With a phone OS, that isn't enough. You need to become big enough that significant numbers of app developers are willing to publish apps on your store, including most major ones (Netflix, Spotify, WhatsApp, social media, banks, government agencies, etc.). Running a VM isn't a full solution: banking apps are already actively blocking usage just based on phone settings that they don't like; unlses your OS does a very convincing job of masquerading as a genuine Android/Apple device you're likely to run into problems (and if you do the latter you might hit legal problems). You also need to convince major manufacturers that it's worth bundling your OS with their phone.
Without those, for a significant segment of the population your phone OS will always be seen as an inferior product to Android / iOS.