BUUUUULLLLSHIT. He just doesn’t want to answer honestly to shareholders. The product is a scammy money pit propped up by tissue paper and the confoolery of our liar and chief.
“AI” 🙄
what they are really saying, especially with the “slow down china bad” rhetoric is just temporally advanced from stuff Adam Smith wrote about, long ago: they cannot keep up and are crying to the powers so shareholders are protected
Reminder: none of the AI industry is remotely based in reality.
https://www.wheresyoured.at/ai-is-already-in-dangerous-hands/
I hear a lot about AI safety. What, precisely, is unsafe about AI that is unique to AI?
From a technical point of view? It’s just software. If you give a software with semi-random outputs access to control external tools, it will do semi-random stuff and could cause harm. And since the people that loves these little runner also likes to run hundreds of them concurrently, with the ability to spawn more, they can cause harm real fast with no oversight.
If you don’t give them uncontrolled access to anything though? Not much harm in that. But it’s harder to sell the “this is the future of everything” if you put pesky things like checks and limited capabilities for the sake of safety.
So, nothing unique to AI, except the scale of it.
shareholders losing value when another country they did not invest in taking over. you know that “market and invisible hand”
I almost believe it’s related. It sounds like the left are up in arms over AI not because of safety but because of money. If they would be more specific about safety, maybe people would listen.
safety is a red herring. capitalism is always going to eschew safety in the name of profit, no matter the industry. there is no difference here with ai. just assume the corps to be unsafe with it.
the problem is actually that the corps want the world to “slow down” so they can catch up; “for safety” is just marketing.
Is this a concession of defeat to spaceX
Probably not in AI itself but SpaceX has starlink which I believe is actually profitable
Don’t worry, it’s DEFINITELY not because they would need to disclose their finances to investors. Just keep pouring money in and everything will turn out fine!
Financial Times reported that Anthropic is telling investors “gross margins are above 80% before it shares with distribution partners and before the cost of training models.”
This is like saying, “I got $500 at the casino, but don’t ask me how much I spent on the slot machines”. All the AI corpos are in the same boat, so this “fear of danger” is likely a smokescreen for, “we’re hemorrhaging cash”.
Anyone who has gone through an IPO knows how fucking rigorous all of the audits and reporting are for investors. Guaranteed 1000% that they failed the audit, or worse they didn’t even get to the audit stage, or as you said their finances they know are shit. It is zero surprise to me that they’re waiting.
Where was this rigorous audit for SpaceX?
Its result was and is aggregated by some freaks here
Their own numbers are documented here:
https://ir.spacex.com/investors/default.aspx
Including all their bullshit Musk-AI spendings. I have no idea why anyone thought this to be a good investment or a good company - they did do that audit and published the results, people still flocked (…) to it
I mean I hate Musk as much as the next Musk hater, but I can understand why SpaceX IPO’d and why OpenAI would hide their audit and finances.
SpaceX literally made self-landing rockets. They’re not a Tesla or a Boring Company bullshit scam. They did something that was amazing, and still is, and opened the door to much cheaper launches into orbit, meaning they can get so many government contracts for anything they need to do in space.
It is WAY cheaper to put stuff in orbit now thanks to SpaceX. That’s why they also went for low earth orbit internet and did starlink. Their own tech made starlink possible. Now I’d never use starlink because fuck Musk, but this is a direct result of SpaceX doing groundbreaking work.
Literally everything Musk does rides on the popularity of SpaceX actually making a massive achievement in rocketry. Tesla fucking sucks and doesn’t even make the best self driving electric vehicles. The Boring company was a failure and/or scam. Starlink is a fucked up attempt to get everyone’s data… Which would be a cooler idea if it weren’t related to Musk but I need to have a tiny bit of trust in my ISP, sorry.
Only SpaceX ever did something cool, and it was legitimately really cool, and the result of good engineers doing work that Musk took the credit for.
SpaceX is just the first time anyone commercialized NASA tech. But now a half a dozen countries and companies abroad are doing the same thing. SpaceX also failed on some big projects.
Oh SpaceX core business including their numbers are amazing, I agree! But they also disclosed the whole AI stuff, including the madness of “inference in space” - the physics is then only one search away. … PayPal was really cool and solved problems as well - and so did Tesla!
I think Musk is like a reverse Midas, eversthing he touches becomes shit for everyone else :/
SpaceX was by far the biggest exciting development in the last years for me … There’s still hope I’ll be wrong though - hoping for it!
Maybe he’ll die and a member of his army of children will be a better leader
Plus it’s Musk’s branding. Unfortunately people still buy into that guys brand. OpenAI doesn’t really have that kind of moat. just look at Samsung and Sk Hynix. Open AI and anthropic would have similar, if not worse fate
It’s a good point. He might have ruined his “brand” in some ways, but he always kept some people believing he’s some sort of super genius, the kind of people that think intelligence is directly proportional to your net worth.
He does some super cringe shit trying to pretend he’s a genius online and most don’t fall for it, but as long as some wealthy people do, he’ll continue to have his brand.
Also his stocks have made some people rich, are usually way overvalued, so even people that hate the fuck usually know not to bet against his stocks. He is pretty good at blatantly manipulating the fuck out of the market no matter what the news cycle is, and he never suffers consequences.
The falcon 9 absolutely did cut the balls off of cost to orbit. Once they cleared the backlog of launches that had built up due to the cost and slow turnaround they had nothing to launch. Starlink is their main customer and without them the Falcon 9 architecture doesn’t have the cadence required to be profitable. Starship is the new solution in need of a problem, so what’s the problem? Data centers in space! I think they’re right up against the rocket equation with starship and they’re counting on trimming the fat to make it work. We’ll see which dies first, physics or finances.
Interesting. Why haven’t new space customers turned up now that launches are far cheaper?
Because satellites are expensive.
I don’t know. Maybe because the main use of space is research and the military and there’s only so much of either?
But the way I understand is SpaceX wasn’t going into the IPO as a rocket company, they were going as an AI company. Their value was absurdly inflated because it was not based on their current space launch business or even on Starlink, but on possible future revenue (datacenters in space, you see) from the AI side of the company, which came from the xAI merge just earlier this year. Even if the company itself is solid, their stocks were still a scam.
No one will ever go to prison, so the scam works. Extract as much money as they can while destroying the world.
Hahaha, AI hype has already reached and past its peak, the best time to do an ipo for them is today, second best time would be tomorrow.
Sure it might be here to stay, but the gold rush FOMO phase is over.
The guy goes fuzzball on telling everyday AI is going to kill us all, then “well I can’t IPO, people are afraid”?
Well, guess what my little boy, what did you expect?
Sam, we don’t believe you, you make no sense at all, you liar piece of shit.
He has a simple, but actually complicated task: boost AI hype, but reduce the competition, ESPECIALLY on the side of open source Chinese models.
That’s the sole reason for “AI is cool, but dangerous, and we must control it” and “We must break free from China” rhetoric. He is tasked to make AI grow as a proprietary technology, so that there’s any chance at all to recoup the immense investment that was made. If open, local LLMs maintain their position, OpenAI cannot leverage its own position to demand exorbitant prices for access to ChatGPT - and that is the key condition to recoup all of the investments that were made.
They can’t go public.
I bet they end up merging or being bought long before they’re actually ready to go public.
They can’t go public.
I think that rising interest rates (e.g. by the ECB) because of more expensive oil and empty national reserves wouldn’t make that easier.
what i heard was that ai companies now push for regulation to legitimize themselves in front of the law. that saves ai companies from the state being like “yea the party’s up we stop this and crack down on it”
same happened to bitcoin.
but idk shit :)
“So, how do you make your money?” “I lie”.
Good news for retail investors.
And tons of retirement funds, not just in the US. Before I took manual control of mine, about 30% was US stock indexes.
The tech CEO’s are playing into fears of AI, because their development didn’t meet their hype.
There is no doubt, they don’t give a fuck and we all should know it. They believe in nothing except self advancement.
https://www.youtube.com/watch?v=9vQaVIoEjOM
Don’t believe the Hype. Yeeeeaah boooyy.
The tech CEO’s are playing into fears of AI, because their development didn’t meet their hype
Across boardrooms, overpaid MBAs constantly lose billions on the simple concept that all graphs continue to extrapolate favorably, propped up by investors who believe the same thing.
I hope they go right under a rock and stay there.
thiel will be very disappointed his apostate.
