Ilya Sutskever's SSI Inc raises $1B

Re:Ilya Sutskever's SSI Inc raises $1B by kklisura on Wednesday September 04, 2024 @10:36AM (#41446320)

Totally blind on this, hoping for someone to shed some light: do these investors get some pitch, information or some roadmap of what company intends to create, how will it earn revenue, how will it spend money or how will it operate?

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Re:Ilya Sutskever's SSI Inc raises $1B by _fat_santa on Wednesday September 04, 2024 @10:56AM (#41446535)

I heard this on a reddit thread a while back but rings very true here.

> If you are seeking capital for a startup with a product, you have to sell the startup on realities (ie how much revenue you are making). If you are seeking capital for a startup with no product, you can sell the startup on dreams, which is much much easier but also way riskier for investors.

Since these guys don't have a product yet, they 100% sold it on big dreams combined with Ilya's track record at OpenAI.

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Re:Ilya Sutskever's SSI Inc raises $1B by fragmede on Wednesday September 04, 2024 @01:32PM (#41448323)

A step removed from the no revenue scene from HBO's Silicon Valley

https://youtu.be/BzAdXyPYKQo

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Re:Ilya Sutskever's SSI Inc raises $1B by trashtester on Thursday September 05, 2024 @09:03AM (#41456246)

> combined with Ilya's track record at OpenAI.

I think it's Ilya's track record all the way since AlexNet, including his time at Google AND OpenAI.

He's not a one-trick-pony.

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Re:Ilya Sutskever's SSI Inc raises $1B by dkasper on Wednesday September 04, 2024 @10:41AM (#41446382)

I’m sure they have a pitch deck. It’s pretty obvious a big chunk will go to compute costs for model training & research. But mostly it’s about the people in any company at this stage, same as any seed funding but on a different monetary scale.

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