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20 points
The big men educated in Finance would probably scoff at my ignorant remark, but anyways here goes: isn’t this the modus operandi of these massively swollen tech “startups”? Spotify for example has been operating at a loss for what, 15 years?
Something like:
- screw people over
- get funding
- bleed money
- ???
- get more funding
14 points
They need to be producing value even if it’s not “taxable profit” according to generally accepted accounting principles.
For Spotify, spending venture capital is fine as long as you secure more users, ready to ne milked later.
For OpenAI, if they burn through $5b in venture capital, their product needs to be ready to make $5b more than it was previously.