I don’t know the exact numbers, but I feel like OpenAI raised far more money than those companies, burned through it far quicker and has much more competition with a much shakier value proposition.
They definitely have a strong consumer brand so it’s not like they’re going to disappear, but I understand the bear case.
Sam A is pretty well connected and knows the game well. No doubt there will be some risks where the whole thing goes right down to zero, but I personally wouldn't bet against them.
I'm sure Sam A will be fine, an IPO will probably see him ride off into the sunset with billions.
The average public investor buying pre-IPO shares, though, is a different story.
I wouldn't bet against Sam Altman personally, but that's very different from betting on OpenAI.