271–280 of 1001 posts
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....Atreides Management? The financing arm of a aristocratic line running a personality cult and who have a nepo baby on the cards contemplating a little bit of jyhad as his ticket out? ....I Do sometimes wonder who comes up with these names.
The same type of people who name their companies Palantir and Anduril
> Elon's offer to purchase the OpenAI nonprofit for $97.4billion isn't going to happen, but it may seriously complicate OpenAI's efforts to claim the nonprofit is fairly valued at $40billion. If you won't sell it for $97.4billion, that means you think it's worth more than that. https://x.com/KelseyTuoc/status/1889064215710941594
That's a bad analysis. There's clearly non-market forces at play for why Sam Altman doesn't want to give control to a group associated with Elon.
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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 spent $44 billion on his own personal propaganda machine, and then used even more money to purchase the US presidency
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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 spent $44 billion on his own personal propaganda machine, and then used even more money to purchase the US presidency
https://en.wikipedia.org/wiki/Acquisition_of_Twitter_by_Elon...
It 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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The issue at hand is that OpenAI (the private, currently "capped profit" entity, henceforth in this post referred to as OpenAI-P) is trying to get spun out of control of the OpenAI non-profit (henceforth referred to as OpenAI-NP).
In order to do this, OpenAI-P must compensate OpenAI-NP for its ownership of OpenAI-P. Currently they are trying to value this at $40B. This is a swindling for numerous reasons. Firstly, OpenAI-NP has complete control over OpenAI-P. They OpenAI-NP board can do whatever it wants with OpenAI-P. OpenAI-P has some financial obligations to those who have purchased its PPU (its equity instrument) but ultimately OpenAI-NP controls OpenAI-P and could do whatever it wants with it (eg shut it down, fire Sam Altman on a whim, etc). Further, the cashflows that OpenAI-NP still has ownership of are, at least under the claims of people like Sam A, clearly worth dramatically more than the $40B valuation would imply.
In addition, the OpenAI-NP mission is "Our mission is to ensure that artificial general intelligence—AI systems that are generally smarter than humans—benefits all of humanity". The control of the leading AI Lab is the only way that they can possibly live up to their mission. To abdicate control of OpenAI-P is to abdicate their mission. If the OpenAI-NP board follows their mission as they are obligated to, they cannot possibly be willing to abdicate this control and they must surely value it far beyond $40B.
EDIT TO ADD TL;DR - Musk is trying to force OpenAI to value OpenAI-NP's stake in OpenAI-P at a reasonable level which is far greater than the current $40B which will help Musk by potentially derailing OpenAI-P's goal to be spun off.
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Yes, seems like a PR stunt to discount OpenAI.
Hardly Musk's first attempt at blatant market manipulation. Hell, that was how he got stuck holding the bag with Twitter