Good, that shitty OpenAI needs to be drained dry and go into nonexistence ASAP.
this post was submitted on 24 Jul 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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The big men educated in Finance would probably scoff at my ignorant remark, but anyways here goes: isn’t this the modus operandi of these massively swollen tech "startups"? Spotify for example has been operating at a loss for what, 15 years?
Something like:
- screw people over
- get funding
- bleed money
- ???
- get more funding
I'd expect the current interest rates make it a less viable strategy.
Also, money is fake but I'd expect there's a limit to just how many billions you can burn before you can't get away with it.
They need to be producing value even if it's not "taxable profit" according to generally accepted accounting principles.
For Spotify, spending venture capital is fine as long as you secure more users, ready to ne milked later.
For OpenAI, if they burn through $5b in venture capital, their product needs to be ready to make $5b more than it was previously.
Basically enshittification is the market finally having to pay for the too-good-to-be-true stuff that came out of the tech boom.
Like, Prime next day shipping was too good to be true. And because we ate that golden apple, now we have to deal with there being a hegemonic monopoly controlling the market for internet ordered stuff, and we don’t have alternatives, and we have to eat their shit.
Yann and co. just dropped llama 3.1. Now there's an open source model on par with OAI and Anthropic, so who the hell is going to pay these nutjobs for access to their apis when people can get roughly the same quality for free without the risk of having to give your data to a 3rd party?
These chuckle fucks are cooked.
Oh no!
These fucking assholes.
Dear Santa, please let OpenAI double its net profits.