It shouldn’t be, but it is. 20 years ago, in the far-off year of 2005, a lot of tech companies more or less followed the same path, where it took decades for them to actually be profitable, if they were at all.
YouTube ran at a deficit for something close to 15 years. AI companies are likely following this trend, and running mostly on investment money, rather than being self-sufficient.
absolutely should. america lives in an idiocracy. a trump meme coin could be valued at 100trillion $ and thats fine. if you want feudalism with extra steps, this is exactly that. go buy some golden sneakers and maybe they’ll be worth a million some time or not.
As a major investor into Open AI future, I’d gladly exchange all my non-existing stakes for a blowjob by fugly Sam Altman. It wouldn’t turn into any profits, but for some time, he’d have something in his mouth that isn’t a lie or a sketchy promo. I believe, some on Open AI board would even pay me to keep him silent.
Gotta keep in mind, profit can always be distorted based on how much employees are getting paid.
Someone is making money. In fact, a lot of people are.
It’s a “pure play”
Capitalism doesn’t sell performance. It sell ‘potential’ and ‘perceived gains’.
I sell my dates on my potential wealth and potential penis size. People need to get on the capitalism grindset.
And women sell dates on their potential to do that thing that was discussed but then try to backtrack by pretending they thought it was a joke and didn’t even bring a banana.
It’s what we in the biz would refer to as a “grower”, which is in contrast to a “shower”.
If you’re gonna sell dates you better be a grower! Dates don’t just grow themselves!
That’s because it’s just gambling.
With extra steps.
No.
Aka why not to have headlines in the form of a question.
AKA Betteridge’s law of headlines.
So now we are actually to the point where we can ask if a corporation or more widely anything at all has any value if it makes no profit.
There are people in the world who by luck of birth or circumstance have amassed obscene wealth and they after the fact are trying to convince everyone that profit is the only thing of value. These are the real public enemies.
This is the post-scarcity shift. This is how it happens.
We need to take, by force, those who have too much and give it to those who have too little.
They will be kicking and screaming. That means we’re doing something right, because they are not our allies.
pretty typical with tech companies, people get too optimistic sometimes
People want to jump on the bandwagon and assume they know everything about new technology.
It’s really easy to take advantage of these laymen with things like traveling to mars or… building underground highways of tubes so people can use transportation like those bank chutes.
I hope one day, we as a species can recognize these patterns so that we may take steps to break them.
We don’t need some “big new tech” to solve the world’s problems. We need to turn around and help out our fellow man who has less than us. We have the tools, just not the desire.
It’s a cultural problem.
It’s typical for tech companies to organize as nonprofits and then restructure because they are losing cash?
Not sure if I’m misunderstanding you or what part you think is typical
It’s typical for tech companies to reorganize because they are losing cash, yes.
Spotify hasn’t made a profit at all since its inception afaik.
Yeah, but not for shitty companies. I’m down to invest in a mom and pop if it helps get it off the ground. Fuck pump and dumps, and people who inflate bubbles.
Isn’t it a private company? They could say it’s worth infinity trillion dollars…
No, not quite. They’re funded by venture capitalists, who put money into investment rounds on the understanding (speculative gamble?) that the company will have a given future value. The last funding round was $6.6bn on the basis that the company will be worth $157bn when it is floated on the stock market. Ed Zitron has quite a good analysis on his page, and also why their business is a complete pile of shite:
They still aren’t required to go through SEC regulations and can make up some PR nonsense evaluation.
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