OpenAI raises $110B on $730B pre-money valuation

Two economists were walking down the street when they spotted a giant dog turd on the ground.

One of them wanted to have some fun, so said to the other - "I'll give you $100 if you take a big bite of that turd".

His colleague figured $100 was a good chunk of cash, so did the deed. Feeling thoroughly humiliated, he pocketed the $100 and they carried on.

Further down the street they came upon another turd.

The angry economist now wanted revenge so made the same proposal back to his colleague, who also agreed and took a bite of the turd, earning back his $100.

Later one of them said to the other "you know, I can't help but feel we both ate shit for no reason."

His collegue replied "what do you mean? We raised the national GDP by $200."

The title and escrow industry is using Gemini (via Qualia Clear) enough so that Qualia accounts for 100 billions of token usage in about 3 months. Just because you don't see who is using it, and how, doesn't mean that when the dust settles, the people actually using AI for real purposes wont keep using AI. I'm not sure which AI models big pharma is using, but there's already at least one new pharmaceutical drug in the secondary testing phase, showing strong results.

There will definitely be room for AI. OpenAI is just not really showing that they care about a particular business model. Probably a strong indicator that Sam Altman is probably the worst person to lead that company. Anthropic will be profitable before OpenAI ever will be.

Gemini is in the green in terms of spending / income ratio FYI. I'm not talking about stocks.

Sarcastically, it's "the vibes intensifying".

(Vibes ~ Vibrations ~ Heat)

Tbf it's a reasonable question... I think it's a little tricky to pin down the equivalent of "kinetic energy" in purely economic terms, though you might look at the rate of flow of money as some analogy for the speed/energy of particles (speed of individual dollars changing hands). In that sense, the more frequent and larger these deals get, the hotter the market is. This is not a novel analogy.

Source: https://openai.com/index/scaling-ai-for-everyone/ (https://news.ycombinator.com/item?id=47180302)

I did upvote, it's witty, but it's a bit of a misrepresentation of how the economy works.

In practice, people don't tend to pay people to eat shit without gain. You are paying people to help you. Money gaslights everyone into helping each other, the most selfish people become the most selfless.

Of course, real capitalism is much more complex and much uglier than this fantasy. When certain people end up with long-term control of large piles of money, the whole thing gets distorted. They get to make lots of money on interest without doing anything, and making other people eat more shit for scraps. That's the "capital" part of capitalism.

But the toy world-model that this joke is making fun of, is actually the one core positive aspect of capitalism and brings all the prosperity we have: tricking people into helping each other.