I read a piece once by a financial journalist, talking about all those stocks he had bet on and which failed and now just sat at the bottom of his portfolio. It was a really good read and he could well recollect his thought processes on them.
Personally I just bought a couple of distressed african pennystock moonshots. If they are already at the bottom, the only way is up, right? ... Right?
Microsoft reporting $4 billion loss on OpenAI equity was the day the realization sat in that its all house of cards. OpenAI has more than a $1 trillion in obligations and no way to pay for them. Sam keeps repeating that OpenAI has a good revenue but the clear picture is only available from MSFT earnings report.
On top of that OpenAI co founder Ilya sutskever said Sam Altman has a habit of lying. So whatever might Sam says now has to be taken in with grain of salt.
I thank stoned me who full ported AAPL three days ago after realizing market will pay huge attention to if OpenAI has any revenue or not.
I think thats the reason why GOOG, AAPL and AVGO didn’t go down as much. AVGO has 80% AI chip business tied to GOOG. And GOOG is well protected as it is the only company who doesn’t need to pay anyone else a lot of money for development of AI. I also think thats is the reason Apple went with gemini for Siri overhaul because there is a significant chance OpenAI might not even survive in long term.
She’s also one of the most effective negotiators in the house. She has helped pass some major legislation - ACA, Wall Street reform after the recession (created CFPB), Infrastructe Act, CHIPS act.
People brush over so many of her accomplishments - it’s not like she just sat back and let the money roll in. She worked hard.
100% The ratchet only turns one way, prices will not come down. Well, prices will drop a little bit, a very little bit, so companies can sat they were lowered.