this post was submitted on 12 Sep 2024
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.

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OpenAI looks to fill the funding gap with $6.5b of fresh investment and $5b credit (pivot-to-ai.com)
submitted 2 months ago by dgerard@awful.systems to c/techtakes@awful.systems
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[–] self@awful.systems 22 points 2 months ago (1 children)

This $6.5 billion round will give OpenAI an alleged “valuation” of $150 billion, up from $86 billion earlier this year.

so pets.com had a valuation of $87 million (~$159 million adjusted for inflation) right before the market crashed, and that shit’s so radioactive capitalists still use it as an example of a shitty bubble business that never should have been valued that high cause who in their right mind thinks pet stuff online’s worth that much?

this next crash is going to be a fucking doozy isn’t it

[–] burble@lemmy.dbzer0.com 9 points 2 months ago

But but but the VCs and PE firms have a thesis or something!

I hope all these ghouls lose their shirts.