I don’t think Cupertino will settle for stock. I think they’ll demand cash and an agreement that OpenAI abandon or reboot their hardware project. In the meantime, Apple gets an open kimono into everything OpenAI has planned.
This could actually be the fuckup that kills OpenAI as an independent company. The threat of a cash judgement gums up not only an IPO, but also debt-based fundraising. (We equity guys are idiots, so we’ll probably keep writing cheques until the market turns.)
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I don’t think Cupertino will settle for stock. I think they’ll demand cash and an agreement that OpenAI abandon or reboot their hardware project. In the meantime, Apple gets an open kimono into everything OpenAI has planned.
This could actually be the fuckup that kills OpenAI as an independent company. The threat of a cash judgement gums up not only an IPO, but also debt-based fundraising. (We equity guys are idiots, so we’ll probably keep writing cheques until the market turns.)