this post was submitted on 28 Feb 2025
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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Investors poured completely insane amounts of money into thd endless money pit that is ClosedAI. then they realize betting everything on one horse was really stupid, since they have zero competitve advantage.
now they try to get as much loot off the sinking ship as possible lmao
they'll probably exit scam soon
it's been an ongoing exit scam
OpenAI buys services from a pile of Altman's other portfolio companies
which reminds me of one of my actual favourite parts of the bayfuckers playacting building companies: how absolutely self-cycling a lot of the funding ends up being. shartups burning fucking piles of money on other, also-VC-funded, shartups. totally normal and healthy way for money to flow.
it's not startup gambling if it's embezzlement