waves hands

Corruption.

Fire all the regulators, find some shit to pump, get all your buddies in, have the NASDAQ make special rules for you, then everyone who bought in private sells on open when the index funds have to buy in. Many pensions may be legally forced to buy this shit to satisfy regulations.

It's fucked. Well over 100x revenue multiples at IPO. They just filled their S1.

The market makers are turning index funds into 2008's CDOs.

Yes.

Elon musk had SpaceX buy XAi which bought Twitter all for increasingly more money from himself. The valuation is based on that. Somehow.

Apparently they claim their TAM is $28T because identifying trillion dollar businesses is their core “repeatable business model”. None of the companies folded into SpaceX now are trillion dollar companies. How the argument that the core business is making trillion dollar companies, despite not making any trillion dollar companies, makes any sense I do not know.

Also uhh… don’t look at their declining real revenue, or that they just bought $1B of depreciating assets from Tesla like $138M of cyber trucks. That definitely was not because they weren’t selling.

Edit: Here's a video on this so you all can see exactly how shitty this deal is https://www.youtube.com/watch?v=-X6YzlY_8tM

yes. see also: capitalism

The prices are already going up, look at anthropic's price hikes, or the GitHub copilot ones. You're right it is just the start though.

That’s only partially true.

The other half is that “almost as good” AI like GLM’s coder plan, Kimi, and dozens of other providers are dirt cheap. And getting cheaper, fast.