alt Hacker NewsCan you explain which partly owned subsidiaries lost $3.74 billion and why it is legitimate to exclude that from their losses in a non-handwavy fashion? Your condemnation leaves me none the wiser and this does matter.
This can of course be used to distort the financial picture and this is a significant amount, almost 50% of losses. Is this from the ‘non-profit’ which used to be OpenAI or something else?
Smells like creative accounting to me and the CEO was accused by his board of dishonesty.
I explained this is a different comment. This is basic consolidation accounting per ASC 810-10-45.
https://dart.deloitte.com/USDART/home/codification/broad-tra...
I get that not everyone is an accountant or has had to become educated in accounting matters as part of their work, but you really shouldn't say "smells like creative accounting to me" if you don't have a basic understanding of the subject.
This is like the least interesting thing about OpenAI's financials, and Zitron framing it as some sort of mystery hinting at fraud is one of the least effective ways to make a point given that it's absolutely a nothingburger.
No loss is disappearing or being hidden. This is by-the-book consolidation accounting.