eicker@lemmy.world to Technology@lemmy.worldEnglish · 2 days agoAI Bubble Teetering on the Brink as OpenAI Admits to Massive Financial Failure: A $20 billion setback.futurism.comexternal-linkmessage-square363linkfedilinkarrow-up1953arrow-down123
arrow-up1930arrow-down1external-linkAI Bubble Teetering on the Brink as OpenAI Admits to Massive Financial Failure: A $20 billion setback.futurism.comeicker@lemmy.world to Technology@lemmy.worldEnglish · 2 days agomessage-square363linkfedilink
minus-squarelikebudda@reddthat.comlinkfedilinkEnglisharrow-up11·2 days agoIt’s not annualized in the traditional sense. They take their highest revenue day and multiply it by 365.
minus-squareKaiFeng@lemmy.worldlinkfedilinkEnglisharrow-up6·2 days agoThat… Doesn’t make sense does it? Like apart from fraud what’s the point of doing it like that?
minus-squareCrimeIsLegalNow@ani.sociallinkfedilinkEnglisharrow-up5·2 days agoOh, it’s absolutely a fraud meant to deceive investors. Just not legally speaking.
minus-squareredballooon@lemmy.worldlinkfedilinkEnglisharrow-up1·1 day agoBut the $70b number was published by an investor, and OpenAIs crime was to not disagree publicly. Makes me wonder who is frauding whom. I won’t pretend to understand this news.
minus-squareeestileib@sh.itjust.workslinkfedilinkEnglisharrow-up3·2 days agoWe don’t even know their calculation. It’s just a number they present without context.
It’s not annualized in the traditional sense. They take their highest revenue day and multiply it by 365.
That… Doesn’t make sense does it? Like apart from fraud what’s the point of doing it like that?
Oh, it’s absolutely a fraud meant to deceive investors.
Just not legally speaking.
But the $70b number was published by an investor, and OpenAIs crime was to not disagree publicly. Makes me wonder who is frauding whom.
I won’t pretend to understand this news.
We don’t even know their calculation. It’s just a number they present without context.