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$1B raise, $5B valuation. For a company that is a couple months old and doesn't have a product or even a single line of code in production. Wild.
$1B raise, $5B valuation. For a company that is a couple months old and doesn't have a product or even a single line of code in production. Wild.
$1B raise, $5B valuation. For a company that is a couple months old and doesn't have a product or even a single line of code in production. Wild.
Totally blind on this, hoping for someone to shed some light: do these investors get some pitch, information or some roadmap of what company intends to create, how will it earn revenue, how will it spend money or how will it operate?
"It will focus on building a small highly trusted team of researchers and engineers split between Palo Alto, California and Tel Aviv, Israel." Why Tel Aviv in Israel ?
Ilya went to university in israel and all founders are jewish. Many labs have offices outside of the US, like london, due to crazy immigration law in the us.
Thanks.
Earlier quoted context omitted.
Welcome to capitalism. It’s all about your existing capital and connections. Capital attracts capital.
Talent attracts capital. Ilya is a legendary visionary, with a proven track record of turning billions into hundreds of billions. Of course he can raise unlimited money.
The PayPal mafia includes Elon Musk, Peter Thiel, etc. They now parlayed that capital into more platforms and can easily arrange investments. Heck Peter Thiel even works with governments (Palantir) and got J D Vance on Trump’s ticket, while Elon might be in his admin.
Kolomoisky got Zelensky elected in Ukraine, by launching a show about an unlikely guy who wins the presidency and named the party after the show. They call them oligarchs over there but it’s same thing.
The first guy to 1 million followers on Twitter was Ashton Kutcher. He had already starred in sitcoms and movies for years.
This idea that you can just get huge audiences and investments due to raw talent, keeps a lot of people coming to Hollywood and Silicon Valley to “make it” and living on ramen. But even just coming there proves the point — a talented rando elsewhere in the world wouldn’t even have access to the capital and big boys networks.
They all even banked at the same bank! It’s all extremely centralized: https://community.intercoin.app/t/in-defense-of-decentralize...
$1B raise, $5B valuation. For a company that is a couple months old and doesn't have a product or even a single line of code in production. Wild.
This feels like a situation with a sold out train to a popular destination, where people are already reselling their tickets for some crazy markup, and then suddenly railway decides to add one more train car and opens flash ticket sale. Investors feeling missing out on OpenAI and others are now hoping to catch this last train ticket to the AI.
$1B raise, $5B valuation. For a company that is a couple months old and doesn't have a product or even a single line of code in production. Wild.
It's because is Ilya. This deal was cooked way back, though, perhaps even before the coup. Now, can they make a product that makes at least $1B + 1 dollar in revenue? Doubt it, I honestly don't see a market for "AI safety/security".
Using the definition from the article:
> AI safety, which refers to preventing AI from causing harm, is a hot topic amid fears that rogue AI could act against the interests of humanity or even cause human extinction.
If the purpose of a state is to ensure its continued existence, then they should be able to make >=$1 in profit.
Same funding as OpenAI when they started, but SSI explicitly declared their intention not to release a single product until superintelligence is reached. Closest thing we have to a Manhattan Project in the modern era?
There is significant possibility that true AI (what Ilia calls superintelligence) is impossible to build using neural networks. So it is closer to some tokenbro project than to nuclear research. Or he will simply shift goalposts, and call some LLM superintelligent.
What evidence can you provide to back up the statement of this "significant possibility"? Human brains use neural networks...