alt Hacker NewsI think it's because the private market can't possibly go any higher. OpenAI is already valued at around $1 trillion and just raised $122b.
The only next step is the public market.
Replies
nicce • today at 10:49 AM
> I think it's because the private market can't possibly go any higher. OpenAI is already valued at around $1 trillion and just raised $122b.
How many public companies even get 122b? They definitely can go higher if they really are that valuable. With public companies come the other factors which might not be based on the actual value and can cause people to throw money.
epolanski • today at 9:07 AM
Meanwhile Chinese AI companies outputting open weight models nearly as good are valued in the low single digit billions. Go figure.
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>the private market can't possibly go any higher
Can public markets go higher? Shiller P/E is closing in on the peak of the dot-com bubble:
https://www.multpl.com/shiller-pe
This is already close to being the frothiest market in US history.
Consider two competing forecasts for AI: it's a "normal technology", or it will be superintelligent.
If it's a "normal technology", where's the moat? Why won't this turn into a boring commodity business, like telecom after the bubble? Sure, railroads transformed the US, but that didn't prevent investors from losing a bunch of money first: https://news.ycombinator.com/item?id=47900502
If it's superintelligence, we're most likely either all dead (in which case you helped cause human extinction by investing, congratulations) or else we're living on generous UBI: https://www.astralcodexten.com/p/you-have-only-x-years-to-es...