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

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!

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

spacexchart.com/about

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

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.

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