Notably a steep discount from their recent raise at a 157B. The board would never approve.
Isn't this Musk offer just for the nonprofit part, i.e. not a comparable number?
Musk-led group makes $97B bid for control of OpenAI
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Re: Musk-led group makes $97B bid for control of OpenAI
#142Earlier quoted context omitted.
i mean maybe? he's good at burning bridges and getting away with it. but i gotta think its not gonna help his companies
Does the longevity of a single company matter when you"re dealling with billions? He can always jump on the next thing, right?
im sure he'll be fine but thats not really my main concern here
Re: Musk-led group makes $97B bid for control of OpenAI
#143Sam’s reply on twitter[0] no thank you but we will buy twitter for $9.74 billion if you want [0] https://x.com/sama/status/1889059531625464090 ?
Elon's response: https://x.com/elonmusk/status/1889062013109703009 > Swindler In another tweet chain: https://x.com/elonmusk/status/1889063777792069911 > Scam Altman
Re: Musk-led group makes $97B bid for control of OpenAI
#144[dead]
Re: Musk-led group makes $97B bid for control of OpenAI
#145It feels like Musk is single-handedly making a great case for why unlimited accumulation of wealth is a bad idea. It's pretty colorful language, but my mind immediately jumps to "financial terrorist". He's using his enormous amount of wealth and influence as a weapon to bludgeon anyone and anything in his way.
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Re: Musk-led group makes $97B bid for control of OpenAI
#146Where's he getting that $94.7B, from the US Treasury?
Re: Musk-led group makes $97B bid for control of OpenAI
#147So, from what I have read about spinning a for-profit off from a non-profit, the for-profit needs to be purchased from the non-profit at market value. There have been a lot of questions about how MSFT or OpenAI's other investors would fund the purchase of the for-profit entity. I think what this does is set a floor valuation with a fully backed bid that the non-profit would get IN CASH for essentially buying the for…
I don't know that this sets a floor, really. There's already a valuation, set by its own preferred investors. I'd think $97b is almost definitely below that. And do the nonprofit board members have the same fiduciary as a typical for-profit board?
The point presumably is that the valuation in a round is paper money. Whereas Elon's group have just offered cash, so they've set the actual value. The law might only care that the non-profit gets a market cash value actually bid, not the speculative value that it could have based on multipling how much some shares were sold by the number of shares.
Re: Musk-led group makes $97B bid for control of OpenAI
#148It feels like Musk is single-handedly making a great case for why unlimited accumulation of wealth is a bad idea. It's pretty colorful language, but my mind immediately jumps to "financial terrorist". He's using his enormous amount of wealth and influence as a weapon to bludgeon anyone and anything in his way.
I typically like Elon about 70% of the time, but I need to agree here. I don't quite understand how he suddenly got so much influence.
He always had it? Money give influence naturally.
I've listened to a history podcast about the robber barons and how following the backlash and dismantlement of the Standard oil, industrialist started buying articles, sometime even newspapers to sell their stories, and in the US, it worked wonderfully. You still have the brand "Quaker" that was born at the time, and probably a dozen other, where they manipulated their own famillial history to build an image, and hide the fact that children died in their mine or that they just had 20 redneck strikers killed. It's not as bad today, but building a personal brand by buying puff articles, fondations. Buying goodwill and influence was always present since at least that time (Honestly, Berkshire Hathaway made at least some of its money on WB reputation, so tech billionaires are not the only kind of CEO who do it)
Re: Musk-led group makes $97B bid for control of OpenAI
#149Earlier quoted context omitted.
https://www.cnbc.com/2025/02/07/softbank-set-to-invest-40-bi... By sending the message that he wants to buy at 97B, he could imply that 260B is clearly exaggerated and create fear for these investors.
That's hilariously nonsensical. Hey Sam, I'll buy it for tree-fiddy, good luck getting anyone to invest at a bigger valuation now!
You sure ?
Seeing Elon Musk, it could be a plausible move to screw financing for OpenAI.
Without financing OpenAI may not have enough runway to survive. That would create a bigger market for x.AI, and also as a bonus act as a personal revenge on OpenAI.
https://openai.com/index/openai-elon-musk/
Musk is clearly referring on their lack of funds at the end of this message.
Re: Musk-led group makes $97B bid for control of OpenAI
#150Earlier quoted context omitted.
https://xcancel.com/sama/status/1889059531625464090 , for those of us without an account.
FYI X has relaxed the login prompt (at least for me). You can again see the post without an account, but not the thread.
It doesn't matter. I wouldn't touch it with a ten foot pole.