There's already talk about nationalizing large models and clusters Manhattan project style.
But even taking that with a very large grain of salt, doesn't it seem like a no-brainer to want to incentivize at least some LLM development to happen in Europe as well?
It still makes sense. They went bankrupt (because they literally ran out of money, they could no longer process withdrawals and billions was missing, it got put into receivership, and good to best outcome was achieved.
This is not vindication of SBF or FTX, they sunk and were saved
I agree comparisons aren't useful - but consider the fact that Madoff screwed over accredited investors, institutions and generally very rich people. SBF messed with customer deposits of a million retail investors - he was going to be made an example of.
Depends on the brackets. If the wealth tax effectively ignores everyone with under 50 million dollars of net worth, then a former European who manages to reach 10 million dollars in net worth without sustaining healthcare debts in the US will have plenty of cushion once they return to Europe.
The perception right now is that the board doesn't care about investors, this will kill this company that is burning money at an insane rate. Employees will run for the exits unless they are convinced that there is a future exit.
Slightly conspiratorial prediction - The IPO does completely fine over the next 6 months - capitalists everywhere would be kinda screwed if this IPO immediately flops and causes the IPO market stays closed, might as well spend a few billions collectively to prop it up. The cost might be a couple billion but the upside to IB, VC, etc. would be a lot more.
That's not "slightly", it's big time conspiracy theory. Once a company goes public, stock manipulation is illegal. It's illegal before too, but it's much more difficult to prove. But once it's public, the SEC loves to go after whomever tries to manipulate stocks. Now, the vast majority of offenders are short term stock manipulators. What you are describing here is a scheme involving multiple "capitalists" who would coordinate themselves and invest billions in an long term illegal scheme, with the hope that nobody rats, and the scheme would produce no profit in the end, but would "save capitalism", and would have some nebulous upside to IB's, VC's, etc.
If you think the SEC is some sort of godlike entity who can read peoples mind yeah this may be illegal. What I'm suggesting is not manipulation - just that investors would be extra willing to invest in the ARM IPO since it increases the value of other assets they own.
It doesn't involve scheming, secret organizations etc. If you were a huge LP and you took on a lower ROI investment on ARM but it increases the value of all the companies in your portfolio wouldn't you do it? Also as an investment banker you would pull out all the stops to get this deal done in a favorable way to investors since you want the market to reopen. That isn't manipulation either, the IB is lowering their fees in order to get the market back open.
White people still are the most overrepresented in leadership https://about.google/belonging/diversity-annual-report/2023/ - you can deny reality all you want - there's only one group that is overrepresented. Let me guess the next reply to this will be some form of "White people are better"
The commenter was talking about promotions so I was looking at leadership % vs staff - nice change of topic though. Why is the US population a good source of comparison? Especially when these companies are full of immigrants? You need to look into your own privilege instead of blaming society friend.
I've lived in Texas for 30 years and I've haven't seen anything like what you see in Europe in terms of racist demonstrations and blatantly racist political organizations. The few weeks of my life I spent in Germany felt far more discriminatory. There is nothing like the AfD in the US. The funny thing is while Racist Xenophobia is a huge issue, there is a ton of Xenophobia against various eastern europeans as well.
Because white nationalism is more and more becoming part of the mainstream. GOP is perfectly capable of hosting moderates and quazi-nazis at the same time.
I don't believe this at all - the GOP is getting more and more diverse and there is no explicitly racist GOP policy. This is untrue for European ethno-nationalist parties. Sure there maybe a couple of closet ethno nationalist in the GOP but they would be thrown out if they said the stuff their Euro counterparts say in the open. There's also the fundamental reality that because of the 2 party system and the demographics of this country that the GOP could never become an ethnonationalist party. Maybe unless PoC become white supremacists themselves like the Chapelle show skit :D.
Crypto was a massive innovation unlike AI - I'm referring to the ability to liquidate investments to retail by completely bypassing securities laws. I don't think this AI wave can get to the same level since it's way harder to sell the bubbly assets to the next lemming. Public markets via a traditional IPO won't be able to sustain this bubble.
Gamestop and AMC's business is primarily selling stock at a massive premium to retail idiots. Their secondary business is making sure they are not violating their fiduciary duty. Very far down in their list of priorities is turning around the business (Selling stock is more lucrative for management than selling movies, games).
