this post was submitted on 07 Apr 2024
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TechTakes
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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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https://www.theregister.com/2024/04/03/stability_ai_bills/
"Stability AI reportedly ran out of cash to pay its bills for rented cloudy GPUs Generative AI darling was on track to pay $99M on compute to generate just $11M in revenues"
"That's on top of the $54 million in wages and operating expenses required to keep the AI upstart afloat."
Midjourney is profitable, so they fucked up BIG time. Imagine going bankrupt while someone else uses your technology to make money hand over fist.
my psyche desperately wants this to be the first milestone on the path to a world record terra luna speedrun
Stability AI's DreamStudio was claimed to have 1.5m+ daily users and Midjourney is claimed to have 1.2m-2.5m. Midjourney still runs through discord so they're saving on bandwidth costs but compute is still very expensive and im not sure how they managed to make 200m.
the only way to interact with our revolutionary product is to use the same gamer app notorious for being infested with cryptocurrency scammers
please invest
I have these 200 pictures of geckos and a couple rolls of reclaimed bubblegum wrapping paper, put me down for $1.2b and 40% ownership
I will start the wiki for 10%