this post was submitted on 03 Oct 2024
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.

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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"?

[–] V0ldek@awful.systems 4 points 1 month ago

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”?

You know how crypto is about me selling you a useless and worthless token before anyone realises and the price collapses? Ye, that but with companies.

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