Former Enron Banker Points Out "Intriguing" Parallels With OpenAI
Bad Company Remember Enron, the American energy company that went belly up after it was exposed for one of the biggest accounting frauds in history? According to an investment banker that once dug into its finances, it bears some "intriguing" parallels with the tech industry's biggest darling: OpenAI. The ChatGPT maker was last valued at a whopping $157 billion after cinching another several billion in funding last October, making it one of the most valuable private startups, or unicorns, in the world. This is despite OpenAI never turning a profit, showing no clear road to profitability, and rapaciously burning through […]
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https://futurism.com/the-byte/enron-banker-parallels-openai