If you're sure you're going to make $1,000,000,000,000,000 as long as you hold onto 10000 pieces of paper, selling them for way, way less than that is very stupid. Even if it's generational wealth, it's still very stupid.
Most of the openai share owners are already millionares, either via the high salaries or whatever. To have people like altman, a billionaire, sell "trillionare" shares for mere millions of even hundreds of millions strongly implies a need to cash put at the top of the bubble, put those hundreds of millions in your hyped up pocket, and let the rubes hold the bag.
The other part of this is the marketing. It may very well be the biggest IPO ever, which will be splashy and loud and keep the bubble going longer, which is exactly something you want if you have no substance to show instead.
cubism_pitta@lemmy.world
on 04 Sep 05:23
nextcollapse
All I hear is NFTs
MCasq_qsaCJ_234@lemmy.zip
on 04 Sep 05:32
collapse
As far as I know, Altman does not own any shares in OpenAI.
And what a good explanation you gave, although that is what happens in game theory, right? That normally the human being wants more despite the risk.
just_another_person@lemmy.world
on 04 Sep 03:54
nextcollapse
Anyone who buys is a fucking sucker. It’s horrible what these assholes are about to do to their own employees.
resipsaloquitur@lemmy.world
on 04 Sep 03:59
nextcollapse
Look at this lovely bag. Would you like to hold it?
lemmeBe@sh.itjust.works
on 04 Sep 12:47
nextcollapse
threaded - newest
Does that mean they’re pulling the emergency rip cord?
I don’t understand why Ed Zitron considers this a sign of the end of OpenAI.
Although I only see OpenAI, it seems confident that its IPO can break records.
If you're sure you're going to make $1,000,000,000,000,000 as long as you hold onto 10000 pieces of paper, selling them for way, way less than that is very stupid. Even if it's generational wealth, it's still very stupid.
Most of the openai share owners are already millionares, either via the high salaries or whatever. To have people like altman, a billionaire, sell "trillionare" shares for mere millions of even hundreds of millions strongly implies a need to cash put at the top of the bubble, put those hundreds of millions in your hyped up pocket, and let the rubes hold the bag.
The other part of this is the marketing. It may very well be the biggest IPO ever, which will be splashy and loud and keep the bubble going longer, which is exactly something you want if you have no substance to show instead.
All I hear is NFTs
As far as I know, Altman does not own any shares in OpenAI.
And what a good explanation you gave, although that is what happens in game theory, right? That normally the human being wants more despite the risk.
Anyone who buys is a fucking sucker. It’s horrible what these assholes are about to do to their own employees.
Look at this lovely bag. Would you like to hold it?
Would you mind watching my bag?
This is the opposite of bag holding though, isn’t it? Since it’s an expanded offering to sell?
You understand that for someone to sell something, someone else would have to buy it, right?
It’s a trap!