posted in Technology
Sam Altman says OpenAI will not go public this year as AI fears grow
Archive link: archive.ph/U1zEK
www.sfchronicle.com/tech/article/openai-ipo-delay-altman-22430043.php
Replying to @fubarx@lemmy.world
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!
Replying to @Catoblepas@lemmy.blahaj.zone
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.
Replying to @scrubbles@poptalk.scrubbles.tech
Where was this rigorous audit for SpaceX?
Replying to @Karyoplasma@discuss.tchncs.de
Its result was and is aggregated by some freaks here
Their own numbers are documented here:
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
Replying to @Scipitie@lemmy.dbzer0.com
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.
Replying to @terranoid@lemmy.cafe
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.