zlacker

> Reminds me of SBF calling for crypto regulations while running FTX

Scott Galloway called it the stop-me-before-I-kill-grandma defence. (Paraphrasing.)

You made money making a thing. You continue to make the thing. You’re telling us how the thing will bring doom and gloom if not dealt with (conveniently implying it will change the world). And you want to staff the regulatory body you call for with the very butchers you’re castigating.

>>JumpCr+(OP)
Sure, I get it, but if Sam Altman quit tomorrow, would it stop Economic Competition -> Microsoft Shareholders -> Microsoft -> OpenAI?

Is there really a better alternative here?

>>JumpCr+(OP)
Except they don't make any money from their products. They're losing hundreds of millions per month.

This isn't the same at all.

>>m00x+ul
Well, this will give em time. Right now LLM have become a commodity. Everybody is got them and can research and develoo them. OpenAI is without a product, it has no advantage. But if the general public will be limited. It'll be hard to catch up to openAI.

I'm sry for the cynicism, but Altman seems very much disingenuous with this.

>>mola+ru
OpenAI is currently registered as a non-profit, yet they're projecting a billion dollars in revenue in 2024, and they sell access to their APIs, which if their previous spending is anything to go by, means they'll see half a billion dollars in profit if we assume they aren't going to reinvest it all.

Some big assumptions.

>>hammyh+OA
> OpenAI is an American artificial intelligence (AI) research laboratory consisting of the non-profit OpenAI Incorporated and its for-profit subsidiary corporation OpenAI Limited Partnership.

https://en.wikipedia.org/wiki/OpenAI

Just FYI, what you're saying isn't accurate. It was, but it's not anymore.

>>m00x+ul
FTX was also losing money.

>>m00x+ul
It may be more the same than you know. FTX had tons of investors in it that was jumpstarting and fueling the whole ponzi...

>According to a report from the Information, OpenAI's losses have doubled to $540 million since it started developing ChatGPT and similar products.

I mean sure that may be a drop in the bucket compared to the 29B valuation for Open AI, but-

>Sept. 22, 2022

>Crypto Exchange FTX May Get a $32 Billion Valuation. That’s Probably Too Much.

OpenAI investors, Apr 2023-

Tiger Global Management Andreessen Horowitz Thrive Capital Sequoia Capital K2 Global

FTX investors, Jan 2022-

Insight Partners Lightspeed Venture Partners Tiger Global Management New Enterprise Associates Temasek Institutional Venture Partners Steadview Capital SoftBank Ontario Teachers’ Pension Plan Paradigm

>>Mistle+WY
Are you suggesting that OpenAI is a ponzi scheme where early investors are being paid with funds from later investors?

>>happyt+JP
My internal model lacked data post-2021! I was hallucinating.

>>brooks+n11
It could be, they currently aren't making money really, right? We don't know if they can monetize it and we know the queries are quite expensive computationally.

>>m00x+ul
I reviewed the hearing in more details, and I'm now still in the opinion that it's not the same, but now I think that Sam Altman is a huge c** for this regulatory capture BS.

I cancelled my ChatGPT plus membership. I'll be using OSS solutions like Vicuna from now ion.

>>Mistle+aS3
Isn't that true for every startup that needs capital before it knows if it will succeed? Usually we consider them high risk investments, not ponzi schemes.