Does OpenAI count on a Authorities Bailout
As all the time, the excerpts do not Boyle justice — you have to watch the entire thing — however here is his tackle how Sam Altman produced that epic tweet.
From the transcript (proofed and reformatted appropriately sufficient by ChatGPT):
[CFO Sarah Friar] “We’re constructing a very wholesome enterprise. Free money circulate—each CFO’s favourite technique to fund something—is climbing rapidly. The third space we’ve moved into is working with our ecosystem to construction some attention-grabbing financing offers. I’m significantly pleased with the AMD warrant construction we put in place a number of weeks in the past, as a result of it creates a really robust alignment of incentives.”
This can be a weird declare, as OpenAI can’t fund something with free money circulate when its money circulate is unfavourable.
…Tech corporations have all the time been artistic about financing, however OpenAI’s strategy borders on the surreal, the place it has turn out to be all about looking for infinite cash glitches. MicroStrategy—sorry, “Technique,” because it now prefers to be known as—is making an attempt an identical trick with its Bitcoin investments, which I don’t count on to finish properly.
…
The issue is that they wish to lever up their wager on AI, however banks don’t wish to lend, and the rate of interest on a mortgage backed by quickly depreciating chips could be so excessive that you’d want the federal government to ensure it.
I can inform that this can make a few of my viewers offended, however there’s actually no purpose to get upset about this, since each Sam Altman and Elon Musk have defined that AGI will quickly earn a living out of date. So—who cares?
…
The cloud – which was alleged to be weightless – seems to be very heavy.
…
I keep in mind seeing adverts on CNBC again in 1999 for an organization that manufactured gear used within the wafer-fabrication steps of creating semiconductors. On the time, I couldn’t perceive why they have been paying for TV adverts when all of their potential clients already knew who they have been and what they bought. Nobody watches CNBC and decides to start out manufacturing laptop chips of their storage.
I later realized they weren’t promoting their merchandise—they have been promoting their inventory. The inventory fell about 80% over the subsequent three years.
Just lately, I noticed a tech CEO being interviewed whereas sporting a T-shirt together with his firm’s ticker image on it, not the corporate’s title. And each podcast I take heed to appears to have adverts for an AI military-tech firm. As soon as once more, I discover myself questioning whether or not their potential clients are actually listening to a Bloomberg podcast—or whether or not they simply wish to pump the inventory. I’ll observe that the CEO of that firm consistently talks about “burning” quick sellers whereas dumping his personal shares.
