Yanis Varoufakis has been warning about this more than once: https://www.project-syndicate.org/c...market-capitalism-by-yanis-varoufakis-2021-06 https://www.youtube.com/watch?v=ZD5DLlxuNWk
I wonder what is he is up to now? He eithers wants to control it or restrict it? Code: Elon Musk tells Tucker potential dangers of hyper-intelligent AI https://www.youtube.com/watch?v=a2ZBEC16yH4 Elon Musk "I tried to warn them" The Danger of AI https://www.youtube.com/watch?v=Zdy6m3pvdNE
“We view this bid as not competitive but with the intention to slow down the OpenAI capital raising process as the Board now has to look at this bid even though the valuation is likely closer to $300 billion,” Dan Ives (analyst at Wedbush)
I care because it might be bad news for Tesla shareholders. Sales of Tesla cars have plummeted and if he buys OpenAI for $100 billion he will need to sell even more Tesla shares, just like he did when he bought Twittter for $44 billion. This will make Tesla's stockprice go down, but of course sophisticated traders can also make money from declining stockprices, but only because Wall Street is rigged. It's difficult to time this stuff for amateur traders like me, so it's not an even playfield. But anyway, I loved OpenAI's response that they would buy Twitter for only $10 billion LOL.
Update: Feb 16, 2025: OpenAI's board has unanimously rejected Elon Musk's $97.4 billion 'hostile' offer. Pretty sure this is not over.
