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What could have they possibly shown to the investors to get that kind of cash thrown at them? Asking for a friend... Did x.ai just become worth more than x.com

by keyle 2y ago

What could have they possibly shown to the investors to get that kind of cash thrown at them? Asking for a friend... Did x.ai just become worth more than x.com? We must be nearing the bubble popping...

stockboss 2y ago
Elon Musk
- belter 2y ago
  Elon Musk The Fragrance Elon Musk Prada Leather Jacket Elon Musk Rectangular Sunglasses
dgellow 2y ago
The Elon Musk Bubble, I really hope so. That’s so much capital and attention that could be spent on actual research instead of over-hyped and over-promised gimmicks
netsharc 2y ago
I wonder if the investors are just like crypto-bros and pyramid-schemers. Knowing it's bullshit, but hoping the next dumbass will come tomorrow, next week, etc, to buy it off them where they can make a profit... Considering the price of e.g. BTC, maybe thinking "People with money can't be this dumb!" is the dumbass move...
- Intralexical 2y ago
  That’s when SBF told Sequoia about the so-called super-app: “I want FTX to be a place where you can do anything you want with your next dollar. You can buy bitcoin. You can send money in whatever currency to any friend anywhere in the world. You can buy a banana. You can do anything you want with your money from inside FTX.” Suddenly, the chat window on Sequoia’s side of the Zoom lights up with partners freaking out. “I LOVE THIS FOUNDER,” typed one partner. “I am a 10 out of 10,” pinged another. “YES!!!” exclaimed a third. What Sequoia was reacting to was the scale of SBF’s vision. It wasn’t a story about how we might use fintech in the future, or crypto, or a new kind of bank. It was a vision about the future of money itself—with a total addressable market of every person on the entire planet. “I sit ten feet from him, and I walked over, thinking, Oh, shit, that was really good,” remembers Arora. “And it turns out that that fucker was playing League of Legends through the entire meeting.” “We were incredibly impressed,” Bailhe says. “It was one of those your-hair-is-blown-back type of meetings.” https://www.sequoiacap.com/article/sam-bankman-fried-spotlight/ https://www.sequoiacap.com/article/sam-bankman-fried-spotlig... Humans with money are mostly just humans that are much less likely to face real consequences if they eff it up.
  - pstuart 2y ago
    Humans with money are mostly just humans that got really lucky.
breck 2y ago
> What could have they possibly shown to the investors to get that kind of cash thrown at them? Their founder has a track record of making his investors a lot of money while solving really hard, important problems. Current valuations: - Tesla $570B - SpaceX $180B - Neuralink $5B - Boring $5.6B
- tarsinge 2y ago
  The capacity of continuing the real world problem solving is very blurry. Boring is a joke. For Tesla he is not a founder, and they are mostly relying on a 10 year old product (new product is a joke) that'll only maybe saved with tariffs. It's mostly a meme stock company by now. SpaceX is a great success but his job was only providing money through government contracts and having the luck of finding Gwynne Shotwell, seems hard to replicate consistently. Add an ongoing mental breakdown and full on lies (FSD, humans on Mars, Hyperloop, ...) and it doesn't look that good (AI is a bit complex, hard to imagine someone in his state still having the intellectual capacity to really handle this). But yeah a new meme stock can still be a good bet for investors.
  - hcarvalhoalves 2y ago
    I wouldn't be surprised if they have insider information on upcoming government contract.
  - ben_w 2y ago
    > For Tesla he is not a founder, and they are mostly relying on a 10 year old product (new product is a joke) that'll only maybe saved with tariffs. This is both true and irrelevant. When Musk took over, the Tesla Death Watch was running strong because it had made 100-and-something individual vehicles in total and relied entirely on finding more investors to not go bankrupt. What Tesla needed is exactly what Musk is: a salesman who can sell a dream to both investors and customers. > Add an ongoing mental breakdown and full on lies (FSD, humans on Mars Humans on Mars shouldn't be on that list, even if he's wrong about every specific — it's the point of everything else he does.
    - 2y ago
dubeye 2y ago
Maybe they showed them the founders ROI record?
MrSkelter 2y ago
Nothing. That’s just the money he needs to buy compute and staff in today’s market. He’s boasting about 100k GPUs. That’s 60k per unit including staff, power, racks, repair, upgrades, failures, development etc. It doesn’t even cover costs.

by keyle 2y ago

stockboss 2y ago

Elon Musk

belter 2y ago
Elon Musk The Fragrance Elon Musk Prada Leather Jacket Elon Musk Rectangular Sunglasses

dgellow 2y ago

The Elon Musk Bubble, I really hope so. That’s so much capital and attention that could be spent on actual research instead of over-hyped and over-promised gimmicks

netsharc 2y ago

I wonder if the investors are just like crypto-bros and pyramid-schemers. Knowing it's bullshit, but hoping the next dumbass will come tomorrow, next week, etc, to buy it off them where they can make a profit... Considering the price of e.g. BTC, maybe thinking "People with money can't be this dumb!" is the dumbass move...

Intralexical 2y ago
That’s when SBF told Sequoia about the so-called super-app: “I want FTX to be a place where you can do anything you want with your next dollar. You can buy bitcoin. You can send money in whatever currency to any friend anywhere in the world. You can buy a banana. You can do anything you want with your money from inside FTX.” Suddenly, the chat window on Sequoia’s side of the Zoom lights up with partners freaking out. “I LOVE THIS FOUNDER,” typed one partner. “I am a 10 out of 10,” pinged another. “YES!!!” exclaimed a third. What Sequoia was reacting to was the scale of SBF’s vision. It wasn’t a story about how we might use fintech in the future, or crypto, or a new kind of bank. It was a vision about the future of money itself—with a total addressable market of every person on the entire planet. “I sit ten feet from him, and I walked over, thinking, Oh, shit, that was really good,” remembers Arora. “And it turns out that that fucker was playing League of Legends through the entire meeting.” “We were incredibly impressed,” Bailhe says. “It was one of those your-hair-is-blown-back type of meetings.” https://www.sequoiacap.com/article/sam-bankman-fried-spotlight/ https://www.sequoiacap.com/article/sam-bankman-fried-spotlig... Humans with money are mostly just humans that are much less likely to face real consequences if they eff it up.
- pstuart 2y ago
  Humans with money are mostly just humans that got really lucky.

breck 2y ago

> What could have they possibly shown to the investors to get that kind of cash thrown at them? Their founder has a track record of making his investors a lot of money while solving really hard, important problems. Current valuations: - Tesla $570B - SpaceX $180B - Neuralink $5B - Boring $5.6B

tarsinge 2y ago
The capacity of continuing the real world problem solving is very blurry. Boring is a joke. For Tesla he is not a founder, and they are mostly relying on a 10 year old product (new product is a joke) that'll only maybe saved with tariffs. It's mostly a meme stock company by now. SpaceX is a great success but his job was only providing money through government contracts and having the luck of finding Gwynne Shotwell, seems hard to replicate consistently. Add an ongoing mental breakdown and full on lies (FSD, humans on Mars, Hyperloop, ...) and it doesn't look that good (AI is a bit complex, hard to imagine someone in his state still having the intellectual capacity to really handle this). But yeah a new meme stock can still be a good bet for investors.
- hcarvalhoalves 2y ago
  I wouldn't be surprised if they have insider information on upcoming government contract.
- ben_w 2y ago
  > For Tesla he is not a founder, and they are mostly relying on a 10 year old product (new product is a joke) that'll only maybe saved with tariffs. This is both true and irrelevant. When Musk took over, the Tesla Death Watch was running strong because it had made 100-and-something individual vehicles in total and relied entirely on finding more investors to not go bankrupt. What Tesla needed is exactly what Musk is: a salesman who can sell a dream to both investors and customers. > Add an ongoing mental breakdown and full on lies (FSD, humans on Mars Humans on Mars shouldn't be on that list, even if he's wrong about every specific — it's the point of everything else he does.
  - 2y ago

dubeye 2y ago

Maybe they showed them the founders ROI record?

MrSkelter 2y ago

Nothing. That’s just the money he needs to buy compute and staff in today’s market. He’s boasting about 100k GPUs. That’s 60k per unit including staff, power, racks, repair, upgrades, failures, development etc. It doesn’t even cover costs.