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dgerard@awful.systems

Cash incinerator OpenAI secures its $6.6 billion lifeline — ‘in the spirit of a donation’ (pivot-to-ai.com)

submitted 1 month ago by dgerard@awful.systems to c/techtakes@awful.systems

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[–] luciole@beehaw.org 12 points 1 month ago (4 children)

In the spirit of donation with the understanding that it may be difficult to know what role money will play in a post-AGI world.

That is downright cultish. Typical of gurus to ask ludicrous sums and mention in the same breath that nobody'll need money anyway once Eden/Apocalypse descends upon us.

The investors are all bubble chasers. The only plan is to take OpenAI to an initial public offering and then dump the shares on retail investors before the AI bubble pops.

I'm humbly asking for someone smarter than me to clarify this. Does this mean the big money people are planning to dump their shit on the rest of us so that when genAI goes down its our savings that go "pop"?

[–] dgerard@awful.systems 6 points 1 month ago (1 children)

tl;dr more or less, yes. Specifically suckers who think shares in OpenAI are a winner. See also how the VCs got out of never-profitable Uber with an IPO.

[–] froztbyte@awful.systems 4 points 1 month ago

damn you and your concision ;p

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