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Sam Altman makes 'mic drop' offer to every Y Combinator startup
- dude250711 5mo agoAdding more layers to circular investments.
- bigbuppo 5mo agoHey, it's the thing I said was going to happen. Thank's for taking my suggestion, Sam.
- jonahbenton 5mo agoThe desperation is strong in this one
- moogly 5mo agoSounds like they have an oversupply of these tokens.
- sellmesoap 5mo agoIt's only a token offer... I'll see myself out.
- KHRZ 5mo agoIf that's in API price, they may be better of with the subscription.
- cyanydeez 5mo agoso weve officially reached the gambling sddiction portion of the LLM show. good luck FOMO
- phendrenad2 5mo agoMaybe they can borrow a few OpenAI engineers too?
- just_once 5mo agoI thought code was free now
- JacobAsmuth 5mo agoGood ideas are expensive. Which is why he's blanket investing, to catch the winners.
- just_once 5mo agoBut why would they agree? Coding is free (or at least $200 a month)
- shimman 5mo agoWhat a great way to boost usage before an IPO. Definitely not scammy behavior!
- bravetraveler 5mo agoThe first taste is free, with a certain perspective on equity
- altairprime 5mo agoIsn’t that a taxable gift, i.e. reportable income for the recipient, given the normal price charged for said tokens, though?
- bravetraveler 5mo agoI have no idea, just a BigCo engineer! Like someone getting hooked... taxes are a Later Problem. Anyway, the deal sounds less like a 'mic drop' and more like something else hitting the table. Say 'Whizbang Model 6.8' comes out and tokens burn ~5x faster; what to do? Agree to give up less of the business or hope for proportional growth? The two million that had been agreed is no longer truly available/applicable. How this and the equity 'shake out' are probably relevant. At risk of upsetting people, token value is arbitrary. What model, what time of day? What transaction? All to say: I have no idea what the Tax Man or our fake business would want :) Above my pay grade, thankfully!
- HWR_14 5mo agoNo, because it's an investment for equity
- kotaKat 5mo agoIt's just a little casual grooming for customers to prey on, is all.
- red-iron-pine 5mo agothe tokens are real electricity and capacity. in ~3 years that equity may be worthless.
- seattle_spring 5mo ago> i am excited to see what will happen with tokenmaxxing startups, both for how they work internally and the products they can build. Am I the only one who gets a physical, visceral churning in their gut when they read/hear someone unironically using the term "tokenmaxxing"? This is the absolute worst timeline, and I'm embarrassed to even be in an industry adjacent to these dorks.
- dpoloncsak 5mo agoThis is not in defense of tokenmaxxing, I just want to remind that CompSci has already been full of ridiculous names that we all just got used to. Bogo sort, Canary, and Rubber-Ducking come to mind Even BASH comes from 'Borne Again SHell', since they re-did what Stephen Bourne made, and it sounds like 'Born Again'
- red-iron-pine 5mo ago10 years ago i'd never had imagined i'd be using the word 'kubernetes' or 'kube' on the regular at least tokenmaxxing has a straightforward implication, and the maxxing implies idiocy or excess
- seattle_spring 5mo ago> Bogo sort, Canary, and Rubber-Ducking come to mind None of those come from such a deep hell as the "looksmaxxing" community.
- 1123581321 5mo agoThis sounds like how you get (or at least used to get) free AWS and Azure credits in your first x years as a startup or until you met revenue thresholds. You wouldn't get as many, but, you didn't have to give up a share of your company, to my knowledge. Were there actually larger credit grants that would've been in exchange for equity, or, is OpenAI doing something novel?
- mawadev 5mo agoVery odd shadow economy that is in the making here.
- interstice 5mo agoLike sci-fi with currency based in kwh or life minutes but this time it's tokens
- blitzar 5mo agoIs the "mic drop" in the headline refering to how bad a deal this is for any startup that takes it?
- dTal 5mo agoReminder that "$2 million worth of OpenAI tokens" is meaningless and codes for "as much access to OpenAI infrastructure as Sam Altman feels like letting you have".
- interstice 5mo agoIt could be at cost, but probably not
- xg15 5mo agoIs the term "tokenmaxxing" now really used unironically and as a desirable thing?
- dbbk 5mo agoNo thanks
- Rp8yXmdmr 5mo ago> $2M in OpenAI tokens How about real money or even Apple Gift cards?