The thing is, OpenAI have been 18 months from running out of money since this bullshit all kicked off. Unfortunately, investors keep throwing piles of money at them.
A detail that I think needs to be clarified there; OpenAI doesn’t actually have the money for those datacentres. What they’re doing is convincing other people to spend money building datacentres, by promising that any day now they’ll have so many people paying to use their services that of course they’ll need more compute capacity than is currently on the entire planet just for their business alone, yeah, just trust me bro, it’s a sure fire bet, you can’t lose.
And in turn, those investors are signing these big “letters of intent” that say “Yes, absolutely, we are building 100 billion dollars of compute, and don’t worry about the fact that right now all we’re doing is spending $10million on buying some land and doing a few feasibility studies because it definitely absolutely will be 100 billion very soon and that will make ten trillion in profit and we’ll break the universe with how rich we are.”
And then US government goes “Here is 10 billion in tax breaks just for saying you will do this thing, you get to keep it even if you never actually spend any money.”
And then all the shareholders have a mass collective orgasm and money just spews out of their wallets.
It’s scams on scams on scams the whole way down. The whole thing is just juicing share prices.
The thing is, OpenAI have been 18 months from running out of money since this bullshit all kicked off. Unfortunately, investors keep throwing piles of money at them.
Just one more datacenter bro! We get AGI bro! At this point it’s a massive sunken cost fallacy I’m afraid.
this is how rich these people are. let’s not even talk about how a company that has money to buy entire datacenters for a year is “running out”.
what a fucking scam capitalism is.
A detail that I think needs to be clarified there; OpenAI doesn’t actually have the money for those datacentres. What they’re doing is convincing other people to spend money building datacentres, by promising that any day now they’ll have so many people paying to use their services that of course they’ll need more compute capacity than is currently on the entire planet just for their business alone, yeah, just trust me bro, it’s a sure fire bet, you can’t lose.
And in turn, those investors are signing these big “letters of intent” that say “Yes, absolutely, we are building 100 billion dollars of compute, and don’t worry about the fact that right now all we’re doing is spending $10million on buying some land and doing a few feasibility studies because it definitely absolutely will be 100 billion very soon and that will make ten trillion in profit and we’ll break the universe with how rich we are.”
And then US government goes “Here is 10 billion in tax breaks just for saying you will do this thing, you get to keep it even if you never actually spend any money.”
And then all the shareholders have a mass collective orgasm and money just spews out of their wallets.
It’s scams on scams on scams the whole way down. The whole thing is just juicing share prices.