For over 1 1/2 years, in “More Tales”, I have been writing and warning about OpenAI’s financial risks:
"Sam Altman, chief executive of the ChatGPT maker, has argued that giving the public a financial stake in the company is the best way to share the upside of AI"
… actually, it's the best way to "socialize" the $1.4 trillion in unfunded commitments https://t.co/e7CkQdc9gh
Hes a liar. 🤥 it’s because he can't afford the compute contracts , and needs new capital.
So secretly that financial stake for the public" is just a way to raise capital from the public (retail investors) rather than just private VCs. He is packaging a desperate need for cash… pic.twitter.com/Xc8VcELmZl
Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality.
On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box."
A Note from Doug: Current strategies and actionable trade ideas -- all on one dynamic platform built exclusively for active trades. From sudden sell-offs to sudden spikes, TheStreet Pro arms you with crucial analysis -- at a rapid fire, professional pace -- to help you make sound trading decisions -- every day, every hour, and every minute. Join me and my team of professional traders for unique perspectives and breakthrough investment opportunities.
