OpenAI has nearly doubled what investors think it’s worth—but there’s a catch.

Built on unearned hype.

  • IllNess@infosec.pubEnglish
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    2 months ago

    Oh good! I remember when they said they couldn’t afford to pay independent copyright owners. Now they can pay for the work they stole!

    • WoodScientist@lemmy.worldEnglish
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      2 months ago

      I say we indict Sam Altman for both securities fraud and 8 billion counts of reckless endangerment. Him and other AI boosters are running around shouting that AGI is just around the corner, OpenAI is creating it, and that there is a very good chance we won’t be able to control it and that it will kill us all. Well, the way I see it, there are only two possibilities:

      1. He’s right. In which case, OpenAI is literally endangering all of humanity by its very operation. In that case, the logical thing to do would be for the rest of us to arrest everyone at OpenAI, shove them in deep hole and never let them see the light of day again, and burn all their research and work to ashes. When someone says, “superintelligent AI cannot be stopped!” I say, “you sure about that? Because it’s humans that are making it. And humans aren’t bullet-proof.”

      2. He’s lying. This is much more likely. In that case, he is guilty of fraud. He’s falsely making claims his company has no ability to achieve, and he is taking in billions in investor money based on these lies.

      He’s either a conman, or a man so dangerous he should literally be thrown in the darkest hole we can find for the rest of his life.

      And no, I REALLY don’t buy the argument that if the tech allows it, that superintelligent AI is just some inevitable thing we can’t choose to stop. The proposed methods to create it all rely on giant data centers that consume gigawatts of energy to run. You’re not hiding that kind of infrastructure. If it turns out superintelligence really is possible, we pass a global treaty to ban it, and simply shoot anyone that attempts to create it. I’m sorry, but if you legitimately are threatening the survival of the entire species, I have zero qualms about putting you in the ground. We don’t let people build nuclear reactors in their basement. And if this tech really is that capable and that dangerous, it should be regulated as strongly as nuclear weapons. If OpenAI really is trying to build a super-AGI, they should be treated no differently than a terrorist group attempting to build their own nuclear weapon.

      But anyway, I say we just indict him on both charges. Charge Sam Altman with both securities fraud and 8 billion counts of reckless endangerment. Let the courts figure out which one he is guilty of, because it’s definitely one or the other.

    • sunzu2@thebrainbin.org
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      2 months ago

      The valuation is based on the last buy in… I am guessing they had somebody buy in recently. Otherwise this is just straight up fake news.

  • A_A@lemmy.worldEnglish
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    2 months ago

    Not OpenAI, now they will be ClosedAI :

    … complete its planned conversion from a nonprofit (with a for-profit division) to a fully for-profit company.

  • Fontasia@feddit.nlEnglish
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    1 month ago

    I listened to The Foundering on Sam Altman at the same time as listening to The Power Broker and they weirdly synced up.

    • They only have one solution for everything, believing more of that thing will solve everything (“Just one more scrape, just one more scrape of everything that’s been said or published anywhere and our next model will be perfect.”)
    • They don’t care for the destruction left in their wake
    • They will walk over everyone, including their own family to remain part of the conversation
    • The only difference is Robert Moses was constrained to New York
    • Dkarma@lemmy.worldEnglish
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      1 month ago

      Yeah yeah…all that destruction from checks notes looking at every meme and listening to every song on the internet.

      Such destruction. Much chaos! 🥱🥱🥱🙄🙄🙄

  • kritzkrieg@lemm.eeEnglish
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    1 month ago

    Can’t wait for the AI boom to inevitably pop and all those billions that could have been spent on…literally anything else, go down the drain.

  • BmeBenji@lemm.eeEnglish
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    2 months ago

    When I copy and paste someone else’s work, I get called a plagiarist and get fired.

    When OpenAI creates a robot that does it really really really fast, they make enough money to feed the planet hundreds of times over.

    I don’t want to live on this planet any more.

      • BmeBenji@lemm.eeEnglish
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        1 month ago

        Sure, but I think recognizing someone when they accomplish something of value is important regardless of the economic system in place.

        And in this Capitalistic society OpenAI is doing nothing but literally capitalizing on the hard work of thousands of individuals without giving them any form of recognition

        • interdimensionalmeme@lemmy.mlEnglish
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          1 month ago

          Capitalism is incompatible with meritocracy.

          It rewards ruthless capture and enclosure of other people’s hard work and surplus value.

          Read what Disney did to folk culture. Read what Edison did to his underlings, it is all a repeat of the “enclosures”, the thefts of our commons for private profits.

          If you don’t know what the enclosures were, read this macabre story and focus on the people who attacked the fences and paid with their lives https://en.wikipedia.org/wiki/Elizabeth_Sugrue

    • someacnt_@lemmy.worldEnglish
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      1 month ago

      I’d say still risky. They might perpetuate the bubble for longer, which means high risk of forced covering at loss.

      • DragonTypeWyvern@midwest.socialEnglish
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        2 months ago

        You can short something with $1. It’s just not enough to affect the value itself. You also don’t technically need any money at all, the point of a basic short is to profit off selling borrowed stock after all.

        • MirthfulAlembic@lemmy.worldEnglish
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          2 months ago

          You definitely do need money. No broker is going to let you short without collateral, and you’re going to be paying interest for the duration of your short position beside any fees/commission.

          • DragonTypeWyvern@midwest.socialEnglish
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            2 months ago

            That’s fair, but let’s not pretend there aren’t brokers that just run a credit check below a certain amount and leave it at that.

            • MirthfulAlembic@lemmy.worldEnglish
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              2 months ago

              Maybe if you have a super low cap, high fees, and they automatically close your position at a pretty conservative point. But that’d hardly be worth any broker’s time with that risk/reward, unless they are hosing the borrower with insane fees. Though if that’s the case, putting up collateral would be cheaper (even if you have to borrow it from somewhere).