This reminds me of the “too big to fail” arguments from the financial crisis.
We will prop up companies to try to contain some kind of financial contagion (pay no mind that it is also socialist corporate welfare)
Why does OpenAI need a federal backstop if it is going to be profitable
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Re: Why does OpenAI need a federal backstop if it is going to be profitable
#12Spoiler: it's never going to be profitable. It's pre-loading the government bailout it's expecting.
Re: Why does OpenAI need a federal backstop if it is going to be profitable
#13Early 2000 and 2008 put together.
Maybe more like 2008 recession-era GM?
Except we don't know if this will be the unexpected reason that it will all crash.
There may be measures involved that will prevent another 2008 but it's likely that there needs to be another unexpected blindspot this time.
I'll give you a hint, energy cannot be printed.
Re: Why does OpenAI need a federal backstop if it is going to be profitable
#14They’ve already received almost $60 BILLION dollars.
That’s more investment than most companies ever see as revenue throughout their entire existence.
FFS, If one cannot make an established , profitable company with $60 Billion of free cash, they are an incompetent at best.
Fuck OpenAI. Fuck OpenAI. Fuck OpenAI.
Re: Why does OpenAI need a federal backstop if it is going to be profitable
#15Earlier quoted context omitted.
It comes on the same day Jensen gave an interview about how the US is going to lose the AI race to China. After circular equity investments and then debt in off balance sheet entities, we are speed running to the government handout phase.
the only thing US is capable of beating china in these days is basketball so it is kind of funny that interview is making rounds…
and don't forget football
Re: Why does OpenAI need a federal backstop if it is going to be profitable
#16Why was this flagged?