With a ~40 billion usd hole (netloss) Openai keeps it´s word by staying a nonprofit company 🤣

  • Chahk@beehaw.org
    11·
    1 month ago

    OpenAI is the definition of the difference between “Not-For-Profit” and “For not-profit”.

  • DarkCloud@lemmy.world
    10·
    1 month ago

    This misapprehends the business models of techno feudalism: you operate at a loss, running on VC money which is fairly endless. You offer a freeish service to grow your brand. Then when you list on the stock exchange you live off debts loaned to you by the bank on the basis that your company is worth millions or billions.

    I have no doubt ChatGPT is, and that Sam Altman lives with no taxable income to speak of. He’s just accumulating bank loans and paying them back with other bank loans secured by OpenAIs growing stock price and company valuation.

    Money isn’t real to the elite classes. Actually I believe Stalin and Churchill once stopped at a Cafe sometime after WW2, they realised after their meal no one travelling with them had money on them to pay. Because they didn’t need money. It’s accepted when you’re at that level. Welfare Capitalism has existed for a very very long time.

  • sylver_dragon@lemmy.worldEnglish
    3·
    1 month ago

    As real as any valuation. Which is to say, what investors are willing to pay for a piece of a company may not always have the most firm association with the reality of a company’s current state. And, the market can stay irrational much longer than you expect.

    • eudaemon@lemmy.mlEnglish
      2·
      1 month ago

      Accounting equivalent of “Cost of Goods Sold” but for software and tech companies its usually a service so “cost of revenue” is the term used

  • melsaskca@lemmy.ca
    1·
    1 month ago

    Those techies might be able to create widgets but they’re sure not competent businesspersons.