this post was submitted on 04 Sep 2024
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The Internet Archive just lost its appeal over ebook lending (www.theverge.com)
submitted 2 months ago* (last edited 2 months ago) by fossilesque@mander.xyz to c/technology@lemmy.world
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[–] buddascrayon@lemmy.world -3 points 2 months ago (2 children)

It's in the first bloody paragraph. 😮‍💨

OpenAI is begging the British Parliament to allow it to use copyrighted works because it's supposedly "impossible" for the company to train its artificial intelligence models — and continue growing its multi-billion-dollar business — without them.

And if you follow the link the title of the article says it all:

#OpenAI is set to see its valuation at $80 billion—making it the third most valuable startup in the world

[–] dan@upvote.au 5 points 2 months ago* (last edited 2 months ago) (1 children)

Just because the company has a high valuation, doesn't mean they're making a profit. They're indeed losing a lot of money and will go bankrupt if they don't get new investment and/or increase their ARR soon. Right now, they've only got 12 months left before they're out of money. https://www.windowscentral.com/software-apps/openai-could-be-on-the-brink-of-bankruptcy-in-under-12-months-with-projections-of-dollar5-billion-in-losses

[–] buddascrayon@lemmy.world -1 points 2 months ago

The valuation is based on the expectation of the company to make massive profits. And if you think investor money is not profit for the people running Open AI, you're crazy. We could only hope that they run out of money and go out of business. But that'll never happen now with the amount of faith these corporations are putting in "AI" research.

[–] v_krishna@lemmy.ml 1 points 2 months ago

I take it you don't understand how startups work?

OpenAI is not making any profit and is losing money hand over fist today. Valuation and raising investment rounds isn't profit.