Wild how fast this moved from "capped profit" to full profit conversion to IPO. Wonder what the final valuation lands at given how fast they're burning cash
OpenAI's entire raison d'etre is because they didn't trust Google to steward AGI because it was entirely a profit-maxxing public corporation, and thus OpenAI needed to be a non-profit not subject to the whims of profit-maxxing. Now that the "non-profit" only owns ~27%, and can be entirely sidelined so that the 73% of profit-maxxing votes controls the direction, I'm wondering in what sense any OpenAI employee could possibly believe their Charter wasn't entirely betrayed. But I'm sure little of them care, as long as they can make $, same as Google.
Wild how fast this moved from "capped profit" to full profit conversion to IPO. Wonder what the final valuation lands at given how fast they're burning cash
I'll be fascinated to see the financial details that could be made public from this.
OpenAI's entire raison d'etre is because they didn't trust Google to steward AGI because it was entirely a profit-maxxing public corporation, and thus OpenAI needed to be a non-profit not subject to the whims of profit-maxxing. Now that the "non-profit" only owns ~27%, and can be entirely sidelined so that the 73% of profit-maxxing votes controls the direction, I'm wondering in what sense any OpenAI employee could possibly believe their Charter wasn't entirely betrayed. But I'm sure little of them care, as long as they can make $, same as Google.
sounds like SV as a whole. Use some hero, moral narrative when your the underdog and then just extract the $$$ once you've made it.
https://www.wsj.com/tech/ai/openai-ipo-filing-date-0ec95af5?...
They reached the ceiling on money they could milk from the biggest companies in the world, so now its your turn.
I might be wrong but I think that the one selling will make a lot of money and the one buying will be hurt like never...
[dupe] Earlier url: https://news.ycombinator.com/item?id=48210226