OpenAI's financials have leaked, showing $21B in losses against $13B in revenue

Wish I could run my life like this: I'm adding value by blowing other people's money and acting like I'm rich.

"Ok so here's the deal, you front my incredible lavish lifestyle and eventually I'm gonna run into managers who I will talk into giving me money that belongs to yet other people, and then I'll pay you back with a percentage and the managers will take a commission and those yet other people will ride out the market volatility. The P&Ls can be steered to make this work for you and me with the support of the network. All we need is to get those managers on board. Trust me!"

And we've seen this before.

2008: Really Smart Guys banks get help of ratings services to gin up managers who tap out the network, until the RSG banks blow a derivatives gasket and Fed has to construct several-many-trillions to make them whole (a lamb was sacrificed to the god of socialism) while the little guys at the edge of the network got pushed off a volatility cliff. "Past performance is not a guarantee of future returns"

"Systemic failure; no one is responsible; RSG bonuses will be paid, carry on"

Reset button gets pushed.

Clown on NBC who told everyone to buy-buy-buy the bull at the moment it croaked in 2008 keeps his job telling everyone to buy the bear.

20 years later: Fantastical new instruments even more perverse than derivatives are on the hoof and RSGs enjoy insane largesse while nation is hollowed out.

RSGs are sometimes bothered by a vague sense of shame and guilt that their lives are bullshit and they have lots of stuff but no community— it's troubling— but too unspecific to merit more than an angsty blog post on how SF just doesn't feel right anymore.

With luck the SA fault will rip a 9.0+ soon and all that angst will roll into the ocean.

it is bad all the way

everyone also thinks anthropic is somehow profitable when they have the same pinch points for cashflow and revenue expenses.

these boondoggles are just the uberwealthy trying rearrange tge weapth dispatity.