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It's almost as if scaling models infinitely for ever decreasing returns requires infinitely more power and data...
Who could have predicted this?! Aside from OpenAI in 2020 in a paper on AI Scaling Laws, and Deepmind who later corrected their math.
They spent 33 Billion more to make 10 billion more. Brilliant business!
What does it usually mean when large sectors of the tech economy are propped up by stock price?
🫧
How does this work? If I make less money than I spend, I'll end up bankrupt with all my possessions sold and possibly in prison. They can't be able to pay the suppliers. How are they still a working company? I really hope all of the AI bullshit goes bankrupt.
They borrowed money from their suppliers, who all made investments in each other. The Open AI invests in the suppliers. Infinite money glitch lol.
But you can't invest more than what was invested into your business, unless you somehow create money out of nothing. How did that part happen? Or did their suppliers seriously let them put all their billions of dollars worth of shit on a tab like in a bar?
You definitely can invest more. Leverage is a thing, allowing a company to exceed its available assets for an investment they believe they can make even more money on.
Highly leveraged companies (used to) be seen as risky. But we live in strange times and sophisticated investors don't seem to care anymore …
I don't get it. So, investors just pay with promises these days? Promises all the way along the chain? It's like the industry is its own bank system.
for now? they are floating on vc money, but their losses are so monstrously huge that they spent good chunk of all of it available worldwide. the way they got it was by promising replacement of work by their bots, aided by captive press and six billion marketing budget from openai alone. but they don't have plan to get profitable, and when money influx stops they're cooked like nobody before has been
I don't know how the US economy works, much less a self sustaining one...
Anyone else live through the dot-com bubble?
Or the real-estate bubble?
This is not exactly like either one of them, but it definitely has echoes of both. The shenanigans of things like Enron and banks selling repackaged loans -> this circle jerk of cash flow between all these gigantic tech companies. Most everyone commenting on it - but lots of people simping for and wishcasting in their stock purchases anyway....all feels strangely familiar.
I have a feeling this one is going to hurt as much as those two. The oligarchs responsible for all this shit may end up slightly less rich in some cases, and probably NONE of them will to fucking prison where they deserve, but all the rest of us are going to have to weather one fuck of a storm...
Hoping it dies a swift death. 🤞🖕🤝👋
This is not how accounting works, you want your companies to lose money on changes in warrant liability fair value, it’s a non-cash expense and the alternative (making money on it) is way WAY worse.
You also want your bank to lose money on credit valuation adjustments in their CDS portfolio!