OpenAI Is A Bad Business (www.wheresyoured.at)

submitted 1 month ago by JRepin@lemmy.ml to c/technology@hexbear.net

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cross-posted from: https://lemmy.ml/post/21121074

OpenAI, a non-profit AI company that will lose anywhere from $4 billion to $5 billion this year, will at some point in the next six or so months convert into a for-profit AI company, at which point it will continue to lose money in exactly the same way. Shortly after this news broke, Chief Technology Officer Mira Murati resigned, followed by Chief Research Officer Bob McGrew and VP of Research, Post Training Barret Zoph, leaving OpenAI with exactly three of its eleven cofounders remaining.

This coincides suspiciously with OpenAI's increasingly-absurd fundraising efforts, where (as I predicted in late July) OpenAI has raised the largest venture-backed fundraise of all time $6.6 billion— at a valuation of $157 billion.

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[-] BashfulBob@hexbear.net 9 points 1 month ago

Or maybe we'll just move on to the Next Thing, like we did after the VR and Crypto markets flopped.

So long as you can print new cash faster than bag holders can go bankrupt, we can keep running this thing forever.

If anyone important gets caught holding a bag, bailout and move on.

this post was submitted on 10 Oct 2024

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