Anyone who buys is a fucking sucker. It’s horrible what these assholes are about to do to their own employees.
OpenAI Boosts Secondary Share Sale to $10.3B, Presents Offer to Employees on Wednesday 9/3
Submitted 4 weeks ago by IsaamoonKHGDT_6143@lemmy.zip to technology@lemmy.world
https://www.cnbc.com/2025/09/03/openai-boosts-size-of-secondary-share-sale-to-10point3-billion.html
Comments
just_another_person@lemmy.world 4 weeks ago
PattyMcB@lemmy.world 4 weeks ago
Does that mean they’re pulling the emergency rip cord?
roofuskit@lemmy.world 4 weeks ago
It’s a trap!
MCasq_qsaCJ_234@lemmy.zip 4 weeks ago
I don’t understand why Ed Zitron considers this a sign of the end of OpenAI.
Although I only see OpenAI, it seems confident that its IPO can break records.
rainwall@piefed.social 4 weeks ago
If you're sure you're going to make $1,000,000,000,000,000 as long as you hold onto 10000 pieces of paper, selling them for way, way less than that is very stupid. Even if it's generational wealth, it's still very stupid.
Most of the openai share owners are already millionares, either via the high salaries or whatever. To have people like altman, a billionaire, sell "trillioanre" shares for mere millions of even hundreds of millions strongly implies a need to cash put at the top of the bubble, put those hundreds of millions in your hyped up pocket, and let the rubes hold the bag.
The other part of this is the marketing. It may very well be the biggest IPO ever, which will be sppashy andl oud and keep the bubble going longer, which is exactly something you want if you have no substance to show instead.
cubism_pitta@lemmy.world 4 weeks ago
All I hear is NFTs
MCasq_qsaCJ_234@lemmy.zip 4 weeks ago
As far as I know, Altman does not own any shares in OpenAI.
And what a good explanation you gave, although that is what happens in game theory, right? That normally the human being wants more despite the risk.
resipsaloquitur@lemmy.world 4 weeks ago
Look at this lovely bag. Would you like to hold it?
lemmeBe@sh.itjust.works 4 weeks ago
Would you mind watching my bag?
boatswain@infosec.pub 4 weeks ago
This is the opposite of bag holding though, isn’t it? Since it’s an expanded offering to sell?
resipsaloquitur@lemmy.world 4 weeks ago
You understand that for someone to sell something, someone else would have to buy it, right?