Their financials are an utter mess. But they’re also hyped enough that a lot of money will get invested in them. Should they crash a lot of money will be lost.
Their financials are an utter mess. But they’re also hyped enough that a lot of money will get invested in them. Should they crash a lot of money will be lost.
Say more about that? The economics look better than I was expecting.
Yeah, part of me wonders how much of it is shared delusion and how much is just cut throat racing for the exits.
Even if the tech + business fundamentals don't match reality, there's just so momentum in favor of a "win" here.
What we have today is interesting tech, with many, many applications - but the path to the kinds of things mentioned in this prospectus have no clear path, it seems like scaling laws are plateauing, but those invested speak as if it's a foregone conclusion we get AI we see in science fiction movies.
There is a good documentary called "All Watched Over by Machines of Loving Grace" which documents how computing started, the touted benefits (it would fix society, all illnesses, liberate humanity from work) - and the slow decline in optimism towards what we have today. I feel like AI will play out the same way.
Money is not lost, it merely changes hands.
This would have been true until ~50-200 years ago, and the advent of modern capital markets. Now, credit is center stage and cash is the sideshow.
It does get lost. Market cap can appear and vanish out of thin air. It's not a zero sum game, not remotely.
How are they a mess? They look amazing honestly, and I work in an office surrounded by experts in analyzing statements like this.