this post was submitted on 25 Sep 2024
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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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OpenAI ditches non-profit board, will spin off as venture capital lottery ticket (www.reuters.com)
submitted 2 months ago by dgerard@awful.systems to c/techtakes@awful.systems
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[–] grrgyle@slrpnk.net 4 points 2 months ago* (last edited 2 months ago) (1 children)

I'm actually shocked at how desperate capitalists are to finding their next hype bubble. Like the fact it is good for statistics is the only whiff of something real they needed to go all in.

Can no one afford steady incremental returns anymore?

EDIT word

[–] cstross@wandering.shop 5 points 2 months ago

@grrgyle @techtakes I suspect steady/incremental returns mean dwindling asset value in the current business environment, typified by rapid churn and major tech transitions every decade (to say nothing of climate change and an unstable global political situation). If 10% of your investment portfolio becomes non-viable every decade (eg. no good owning coal fields any more) you have to grow fast or die. At least, that's how the investment funds see it.