They don’t really report profits since so much is circular. They just increase both sides of the profit/loss equation at once which makes them look bigger without actually making any profit.
If you, I and a third person create three companies and just pass the same 100 dollar bill in a circle 10 times a minute as full time jobs 48 weeks a year ignoring holidays, we’d each have 115 million in revenue to report. We’d just also each have 115 million in expenses so there’s no profit.
how the fuck does he have those kinds of assets despite never coming close to delivering a profit?
He profits just fine. The companies not so much.
Except NVIDIA, they’re making shovels and shitloads and he probably gets something under the table from them too.
Just like the circular deals 90% of the “profits” we’ve seen reported by these AI companies is just fake money
They don’t really report profits since so much is circular. They just increase both sides of the profit/loss equation at once which makes them look bigger without actually making any profit.
If you, I and a third person create three companies and just pass the same 100 dollar bill in a circle 10 times a minute as full time jobs 48 weeks a year ignoring holidays, we’d each have 115 million in revenue to report. We’d just also each have 115 million in expenses so there’s no profit.
Like altcoin exchanges, except real companies are now the altcoins
OpenAI has raised a total of around $180B. He just took ~1%.
You thought he was non profit? Dudes probably pocketing 30-40% of the companies money