October 22

6:03 AM Please let me try do this one more time.

Just googled for the market value of OpenAI. They need 30 more billions to become 1.4 or 1.5 trillion. That, after in March they raised 120 billion to become 800 something. Does that make sense to anyone? No it doesn't and the reason it doesn't is it's not worth it. Let me explain. (IPO is a keyword in this post standing for Initial Public Offer). 

Have you ever seen how wildly NASDAQ goes up and down these days? One precent is most common. Where are the days when the norm was less than 0.3 percent?

It's not greed. All the money FED printed over decades had to go somewhere and people turned to the stock market.

But because the stock market  though is huge has only so much potential to absorb new money, it cannot absorb all that.

And then they invented the seven magnificent. Seven companies that are "worth" each trillions, a huge money sink that grows constantly. A place for investing they say. It's where most retirement money go to rest (through mutual and pension funds).

***

I never understood why companies go public. Most to raise some real hard cash through IPO and give the brokers something to do after.

From the moment a company goes public its assets separate from its market value which represents nothing anymore. Not the assets or book value or intrinsic value. It's called market capitalization.

They become infinite Ponzi schemes with a fancy brand name. The "investors" start buying shares from each other, but none of their money reach the corporation. How is this investing? (yes i think Marx would call this alienation (as in separation (of you and your money))).

In the beginning they paid dividends (probably long time ago). But most figured ways with lawyers to trick that. They don't give anything to "investors" except a piggy bank to put their money into until some others put more money and its "value" grows like piggybanks on some slot machines.

I am not going to start arguing with the AI agent who wrote this. But how are they profitable if they don't pay dividends?

And they give as counter example a number of classical Ponzi schemes. They were using money from newcomers to pay the first ones heading inevitably to a built in a crash.

Compared to what they doing today, those were little children.

There are no money. There is no centralized profiteer. The investors buy from previous investors shares at higher and higher prices and there is nothing behind. No assets, no value which are something that goes separately, as i said, with no link whatsoever with the stock market. And nobody profits or maybe just the inspired traders helped by high frequency automated trading who buy for less and sell for more.

And since there are no centralized profiteers (the trillionaires sleep on mattresses with holes in 50k apartments), they can go on indefinitely. Nothing to point fingers at or scandals. No yachts in the Caribbean or Mediterranean. Ok maybe just a little for show, trying to prove it's all real. 

And while Tesla, Apple Microsoft, google, do something, have something to show, what OpenAI (not a magnificent yet) does? Just a dreaming alt_face floating around, executing pirouettes with a mysterious smile, talking philosophy. And rumors of kids doing their homework on chatGPT.

And sometimes playing doctor, consulting, prescribing, ordering, without a license, unnecessary tests which i believe are crimes in the State of Oregon. 

And BTW the stupid AI as we know it is nothing but all we put in (or it gathers from sites whatever). The piggybank of our history.

7:45 As for doctors... I remember what once our HS French teacher said...

8:00 These sort of coincidences that made me go nuts in the past. The observer's effect on the Stock Market. Or did i go in the kitchen area? Yes i did, there are 13 minutes missing time there. 

BTW last night i went for a test drive with the car, i forgot my wallet and phone in there and the car is with Angela, three miles away. And i needed to go somewhere.