> I suspect we can design a very interesting new kind of financial instrument for finance and compute that the world has not yet figured it out
Hmm, can't figure out why this statement makes me think of Enron. After all, OpenAI certainly isn't trying to do massive infrastructure build outs while struggling with a relatively limited cash flow, or anything like that.
So glad this is the top comment, this was my exact thought (and the exact same quote in the comment I made before reading the one). This statement made my bullshit sensors go off like crazy. Glad it’s not just me.
I can't find the article right now because the keywords for searching just bring a lot of noise around OpenAI articles, pure slop most of the time, but Sam Altman said in an interview something around the lines "real innovation happens only through financial innovation" (or enabled by, can't remember the exact words), a statement that triggered a lot of red alarms in my head when I read it.
It's the same type of stuff Enron, the CDOs/CDSs from the 2008 crisis, and other financial frauds through history have thought. Let's repackage this unattractive financial product into layers of other stuff, hide the risks, rebrand it as something new and exciting, promising returns, and fuck everything up in the end.
“The four most dangerous words in investing are: ‘This time it’s different.’” - Sir John Templeton
Hmm, can't figure out why this statement makes me think of Enron. After all, OpenAI certainly isn't trying to do massive infrastructure build outs while struggling with a relatively limited cash flow, or anything like that.