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this_user | 11 days ago

I am very curios if OpenAI's IPO attempt this year will turn into WeWork 2.0 where all the air suddenly comes out of the valuation once the market acknowledges that they have no moat and lack a clear path to profitability that would make these huge investments worthwhile.

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paxys|11 days ago

There’s a reason OpenAI and Anthropic are both trying to accelerate their IPO while still being wildly unprofitable. There is still unlimited AI hype in the market. If they go public this year the entire world is going to blindly buy them without looking at their books.

burnte|11 days ago

> There is still unlimited AI hype in the market.

I've observed a very different state. From what I've seen the sky-high expectations of AI have come down quite a lot.

onlyrealcuzzo|11 days ago

There are at least plausible scenarios where OpenAI is a VERY valuable company in the near future.

There were not with WeWork.

The SpaceX/xAI IPO will be more interesting.

SecretDreams|11 days ago

All of these things are vastly overvalued. Only one with tangible value is SpaceX because that's actually a moat-space. OAI holds no moat, has not done a good enough job to entrap their users, and has poor cost structure.

xAi isn't even a point of discussion.. it's just a scheme to rip off investors.

WeWork.. hard to take anyone seriously that ever invested in this bad boy.

Herring|10 days ago

A recognizable trusted brand is a moat, look it up. OpenAI has that in spades.

jcgrillo|11 days ago

I'm super curious to see if Nvidia turns out to be Enron 2.0..

quantified|11 days ago

They would need to have massive accounting fraud and lose public support. Unlike Enron, Nvidia actually sells tangible goods at a massive profit, and hasn't appeared to gloat over people getting screwed over.

chasd00|11 days ago

i think worst case they go back to selling GPUs to gamers. That would indeed be a massive front page story and movies would be made about it but I don't think the fraud is there. They have a pretty straightforward business, make GPU cards and sell them.

tim333|10 days ago

Nah, not Enron. Maybe Cisco.