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> OpenAI has made "less than a million dollars" in SF civic contributions OpenAI and Anthropic are going to drop metric fucktons of taxes into California—and S
by JumpCrisscross 2mo ago
> OpenAI has made "less than a million dollars" in SF civic contributions
OpenAI and Anthropic are going to drop metric fucktons of taxes into California—and San Francisco—when they IPO.
- phlakaton 2mo agoLet's just say I'll believe that when I see it. Looks to me like they'll be operating at losses well beyond their IPOs.
- JumpCrisscross 2mo ago> they'll be operating at losses well beyond their IPOs Doesn’t matter for taxes on wages, options, realized gains, distributions, et cetera.
- phlakaton 2mo agoMaybe wages if the company puts the IPO proceeds towards additional hiring. The other bits sound pretty speculative to me. I could see outside investors walking away with most of the early gains, leaving employees and locals underwater.
- JumpCrisscross 2mo ago> The other bits sound pretty speculative to me Then they aren’t affecting housing. If gains are being realized to convert into real estate, they’re getting taxed. If they aren’t getting taxed, they aren’t hitting housing. (There are edge cases. But this isn’t an edge-case hypothesis. The folks selling shares in the private markets to buy mansions are paying taxes.)