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
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A 100+ billion dollar valuation.
Absurd.
It’s just as absurd as when WeWork got a 40 billion dollar valuation.
These VC’s are insane and should be paying a high-as-fuck tax rate instead of having a bazillion dollars to drop on boondoggles.