The trouble with a stock market IPO is you have to bare yourself to the world and show everything about your horrible business numbers. OpenAI’s numbers have always been hilariously terrible. Just …
  • gerikson@awful.systemsEnglish
    2·
    14 hours ago

    This sneaky way of getting on the index from day 1 makes me so mad. Are the index funds really contractually required to follow the exchange’s definition of index? I guess they are. It feels skeevy as hell that one company can skirt the rules this way however.

  • V0ldek@awful.systemsEnglish
    6·
    18 hours ago

    Two things:

    One, it’s a remarkable accomplishment to not manage to cook an IPO even now when SEC is functionally gutted by the Trump admin. They made crime legal! What are you doing?! Just lie in the statements and run to Barbados or something

    Two, I am baffled by this

    Harrison Rolfes from Pitchbook (…) thinks a good time for OpenAI to do an IPO is “mid-to-late 2027”. He wants a few quarters of “clean execution” and not floundering.

    Like what? What are you talking about. The whole point of the IPO is to cash out ASAP before the music stops. Why are you talking about OpenAI like it’s a real business? Am I in Wonderland? The best time for OpenAI to make an IPO was yesterday, the second best is right fucking now, how would waiting a year be possibly good for them

    • samvines@awful.systemsEnglish
      2·
      18 hours ago

      A lot of MBA bean counter types lack the intelligence or self awareness to realise they are part of a big scam and seem to earnestly think they are doing an important and valuable job. That’s how you end up as a mid level spokes person at Pitchbook rather than someone making billions by doing investment fraud an AI company