I'm so glad $7 billion was spent to use up as much electricy as an entire city.
It’s crazy how much of the American tech industry are all these unprofitable endeavors being propped up by investors with no hope of profit in the near future. I feel like it is going to end with a DotCom bubble bursting but a million times worse.
The whole VC based startup culture is basically just a giant pyramid scheme. Initial investors pump the company, and subsidize the losses until they can get the IPO. Then they sell their shares at the peak, and other suckers are left holding the bag for a company that has no viable business model.
I don't think that's how tech companies work. Rarely any of them make a profit at the start and survive from investiments, and considering how impactful AI is OAI has no need to make a profit for a long time unless some company comes up with something so much better than them and monopolizes the whole market overnight or something like that.
Well it's gonna be more of investors losing confidence that they can make their money back and bailing.
They can just make their money back through the IPO, so as long as the company is seen as valuable and promissing, as it still is, they won't really care about its losses.
