41–50 of 345 posts
What's the point of a "confidential S-1"?? Isn't the S-1 supposed to inform potential investors?!? So ... shouldn't it _not_ be confidential??
I don’t get what’s the point of non-profits if you can IPO them. How does that make any sense?
See: https://www.axios.com/2023/11/18/how-openai-board-is-structu... for the OpenAI Structure. 1) In order to fund research - this stuff costs 10s of billions of dollars - everyone, from Ilya, to Elon, to Sam - all agreed that they would require a profit-arm to raise money. Nobody was going to sponsor that 10s of billions of dollars to a non-profit. 2) The non profit is still there - and controls the commercial eleme…
How much has MacKenzie Scott donated to non-profits again?
Seems like such a claim is on thin ice.
This is the true definition of AGI and will be achieved this year. The I in AGI has always stood for IPO.
Here we go… Let’s see if retail investors are indeed exit liquidity or not
I don’t get what’s the point of non-profits if you can IPO them. How does that make any sense?
See: https://www.axios.com/2023/11/18/how-openai-board-is-structu... for the OpenAI Structure. 1) In order to fund research - this stuff costs 10s of billions of dollars - everyone, from Ilya, to Elon, to Sam - all agreed that they would require a profit-arm to raise money. Nobody was going to sponsor that 10s of billions of dollars to a non-profit. 2) The non profit is still there - and controls the commercial eleme…
That will be especially untrue after IPO when shareholders can claim there are fiduciary responsibilities that conflict with the non profit goals.
Earlier quoted context omitted.
They need to financially engineer a good looking quarter beforehand. Perhaps Larry Ellison can cut them a nice quid pro quo for a few months to make OpenAI look profitable (like the SpaceX/Anthropic deal), although that's probably unlikely given the debt Oracle is taking on to build it's infra.
You are forgetting the google space x deal too
I don’t get what’s the point of non-profits if you can IPO them. How does that make any sense?
They're IPOing a commercial subsidiary of OpenAI so that it can donate even more money to the parent nonprofit. (Actually the subsidiary is everything and the nonprofit is a do-nothing fig leaf but the IRS and Congress seem to not care enough to stop them.)