this post was submitted on 27 Aug 2025
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SoftBank needs OpenAI to stay alive — no matter what (pivot-to-ai.com)
submitted 1 week ago by dgerard@awful.systems to c/techtakes@awful.systems
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in this episode I explain the numbers that require SoftBank to keep OpenAI alive past all reason: they're spending real money to achieve imaginary private equity valuations and this was enough to make their stock go up. So they can't stop.

https://www.youtube.com/watch?v=zTYxEVRiCvM&list=UU9rJrMVgcXTfa8xuMnbhAEA - video
https://pivottoai.libsyn.com/20250827-softbank-needs-openai-to-stay-alive-no-matter-what - podcast

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[–] Hirom@beehaw.org 16 points 1 week ago (1 children)

This AI bubble is fundamentally fuelled by too much money that can’t get sane investments — so it’s looking for insane ones.

There’s a real tech revolution going on right now! It’s renewable energy. Wind and solar and batteries are all super-cheap and getting cheaper, the tech is advancing by leaps and bounds, it’s doing amazing stuff.

But that’s a regular business that doesn’t look like a venture capital lottery ticket — so it doesn’t get hype-filled headlines in every newspaper from venture capital PR offices.

https://pivot-to-ai.com/2025/04/10/a16z-raising-fresh-20b-for-ai-bubble-investments/

The finance sector directing the world's resources to the wrong projects is scary dangerous. More than AI itself.

[–] diz@awful.systems 5 points 6 days ago

I think this is spot on. I had that same thing happen at my former employer, which bought a lot of entirely pointless startups in 2010s instead of investing in core business equipment and processes.