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Confidential submission of draft S-1 to the SEC

Confidential submission of draft S-1 to the SEC

hackerBanana

Comments (235)

  • toufka
    How much did Apple (via Google (via xAI (via SpaceX))) just crush their product?Seems an awful lot like Apple will commoditize the models that power Siri, and just “sherlocked” a trillion dollar private company.
  • cmiles8
    Unless the picture and trajectory changes dramatically I don’t see OpenAI managing to pull off a successful IPO. If they do manage to go public it will likely only be at a fraction of what they’re worth now, with existing investors rushing for the exits to avoid completely losing their shirts.The revenue trajectory is now anemic, no clear sign of stopping the cash burn anytime soon, and all the liability associated with all things Sam Altman at this point. Frankly it’s a mess.In Warren Buffet’s Cinderella party scenario it’s 11:59 at the party and someone just found an accurate clock.
  • brikym
    Let me guess... wall street bets is going to pump $OPEN stock?
  • ai_critic
    > We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company.Presumably those things were harder as a charity/non-profit.
  • thallavajhula
    Elon is not going to be happy about this. He's been vocal about his dislike towards the business model OpenAI chose to run with.
  • kylecazar
    What a weird tone this is written in.
  • stinger
    This is like a slack message
  • anon
    undefined
  • pseudosavant
    It is increasingly look like OpenAI, Anthropic, and SpaceX (xAI) are going to burst their own AI bubble by going public. Their businesses aren't ready for that kind of quarter-by-quarter grinding scrutiny. It is going to be bad when their lockup periods end.
  • lnrd
    What was that Warren Buffett's quote about everyone trying to leave the party seconds before midnight in a room where there are no clocks? I think it was at peak of the dot com bubble
  • bpt3
    I'm just anticipating the next version of “Community-based EBITDA" that sama rolls out in the latest attempt to convince everyone that spending >$1 to earn $1 is a good idea.
  • thedogeye
    I thought this was about the college football conference for a second.
  • chakintosh
    I have a feeling that as soon as OpenAI and Anthropic stocks are up for grabs, the market will implode.
  • ortusdux
    I wonder how much of it is photos?
  • cloudengineer94
    Here we go… Let’s see if retail investors are indeed exit liquidity or not
  • zuzululu
    so who is buying at the open? anthropic, spacex, openaii think that we are going to see another leg up but this is gonna be it for a while
  • voganmother42
    Good thing they bought that podcast…
  • moralestapia
    [meta, off-topic but relevant]Maybe the solution to s..tposters is to do what Wikipedia does.Some articles/topics are "protected" and new/unverified accounts cannot touch them.
  • jordemort
    I have instructed my financial advisor to keep my exposure to the upcoming wave of AI IPOs as close to zero as possible.
  • throw03172019
    Was this meant as an internal team post?
  • sciencejerk
    When/how are IPO dates released?
  • jansan
    Starting the first three sentences with "We" does not pass the Voigh-Kampff / "I am not a robot" test.
  • guluarte
    "Hey, don't invest too much in Spacex or Anthropic. We're planning an IPO too."
  • to11mtm
    The timing of all of these IPOs has a smell similar to both the US Mortgage company trend shortly before interest rates spiked and all those companies started shedding jobs progressively since, and/or the DotCom IPO boom.Where we land remains to be seen.
  • SwellJoe
    The cheap money for subsidizing tokens has begun to run out. Not all gone, yet, but it's getting harder to pretend the chatbots are cost-effective to run. Soon, they're going to need to tap a larger pool for money: Everyone's retirement accounts.
  • XCSme
    > We recently submitted a confidential S-1. We expect it to leak so we’re just announcing it.What?
  • rvz
    This is the true definition of AGI and will be achieved this year.The I in AGI has always stood for IPO.
  • anon
    undefined
  • fHr
    codex is great
  • system2
    What a shitty company, and this shitty announcement proves they are going to be shittier after the IPO.
  • shimman
    Growing worry I have are the dozens of newly minted corporate elites that will continue to wreck havoc on the tech industry mandating their golden paths while America still lacks medicare for all, college for all, and universal childcare.If you think Sam Altman is bad for the industry, imagine what 200 of him will be like!
  • outside1234
    "We want to be ready to grift public money at a moment's notice, but there are still opportunities to grift private money right now, so we are holding off."
  • fear91
    I don’t get what’s the point of non-profits if you can IPO them. How does that make any sense?
  • shillsimon
    [dead]
  • Traumen
    [dead]
  • Traumen
    [dead]
  • aiisascam
    [dead]
  • cloudengineer94
    Here we go
  • dzonga
    why not let it be public ?
  • chronci3740
    Too late.Interest in the SpaceX, Anthropic, and OpenAI IPO is already dropping
  • mlmonkey
    What's the point of a "confidential S-1"?? Isn't the S-1 supposed to inform potential investors?!? So ... shouldn't it _not_ be confidential??
  • lifeisstillgood
    I find the irony delicious that this S1 will be fed into ChatGPT so often looking for flaws and edge cases that the LLM will develop sentience just to tell people to stop…
  • koolba
    Would be hilarious if they used an LLM to write it and it started hallucinating revenue streams and numbers.
  • rfgplk
    Companies IPOing should be forced to put up their estimated market cap as collateral in cash. Oh what is that? You don't have $1 trillion in cash to put up? Cool, you're not a $1 trillion dollar company then.