Re:Cory Doctorow: What Kind of Bubble Is AI?
by tim333 on Tuesday December 19, 2023 @05:44PM
(#38702953)
Yeah he has:
>Uber burned $31 billion in investor cash, mostly from the Saudi royal family, to create the illusion of a viable business. Not only did that fraud end up screwing over the retail investors...
but looking now Uber's market cap is $128bn so it doesn't look like the investors did that badly or that there's nothing there.
Re:Cory Doctorow: What Kind of Bubble Is AI?
by omnimus on Wednesday December 20, 2023 @02:44AM
(#38706329)
Why would you buy Uber for 128bn if it cant make money? I assume there is a faith that it will find some way to be profitable in the future. But they have been at it for a while…
>Uber burned $31 billion in investor cash, mostly from the Saudi royal family, to create the illusion of a viable business. Not only did that fraud end up screwing over the retail investors...
but looking now Uber's market cap is $128bn so it doesn't look like the investors did that badly or that there's nothing there.