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Ed Zitron explains OpenAI’s leaked financials | The Tech Report - Youtube (Invidious link) (inv.nadeko.net)

submitted 2 days ago* (last edited 1 day ago) by supersquirrel@sopuli.xyz to c/techtakes@awful.systems

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“You shouldn’t be debating whether AI has ROI… you don’t get to do that anymore. You’ve burned over $1trn on this.” Author of Where Your Ed At and host of the Better Offline podcast joins The Tech Report’s Isaac Pound to dig into OpenAI’s leaked financials and how AI has hit a price wall with token-based billing. Ed's detailed breakdown of OpenAI's financials: www.wheresyoured.at/exclusive-openai-financials/

"I think it could get really weird and messy very soon" -Ed on what is going to happen as investors realize AI is toxic to profit.

Not only is AI a technology that hasn't panned out as broadly transformative or useful, it is being propped up by extremely sketchy financials at least with OpenAI.

https://www.youtube.com/watch?v=UnLRb-sU-Is

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[–] samvines@awful.systems 7 points 2 days ago

Another explanation that feels likely to me is that all the monorail salesmen at the big corps know the gig is nearly up so they are rushing to IPO or raise new funds (Google did the same recently) to maximise the amount of $$$ in their bugout bags as they sail off into the sunset