Confidential submission of draft S-1 to the SEC (openai.com)

> We recently submitted a confidential S-1. We expect it to leak so we’re just announcing it.

What?

I wonder how much of it is photos?

This is the true definition of AGI and will be achieved this year.

The I in AGI has always stood for IPO.

What's the point of a "confidential S-1"?? Isn't the S-1 supposed to inform potential investors?!? So ... shouldn't it _not_ be confidential??

Would be hilarious if they used an LLM to write it and it started hallucinating revenue streams and numbers.

> We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company.

Presumably those things were harder as a charity/non-profit.

"We want to be ready to grift public money at a moment's notice, but there are still opportunities to grift private money right now, so we are holding off."

Growing worry I have are the dozens of newly minted corporate elites that will continue to wreck havoc on the tech industry mandating their golden paths while America still lacks medicare for all, college for all, and universal childcare.

If you think Sam Altman is bad for the industry, imagine what 200 of him will be like!

I'm just anticipating the next version of “Community-based EBITDA" that sama rolls out in the latest attempt to convince everyone that spending >$1 to earn $1 is a good idea.

"Hey, don't invest too much in Spacex or Anthropic. We're planning an IPO too."

I don’t get what’s the point of non-profits if you can IPO them. How does that make any sense?

Here we go

Here we go… Let’s see if retail investors are indeed exit liquidity or not

This is like a slack message

What a weird tone this is written in.

Was this meant as an internal team post?

What was that Warren Buffett's quote about everyone trying to leave the party seconds before midnight in a room where there are no clocks? I think it was at peak of the dot com bubble

Companies IPOing should be forced to put up their estimated market cap as collateral in cash. Oh what is that? You don't have $1 trillion in cash to put up? Cool, you're not a $1 trillion dollar company then.

When/how are IPO dates released?

why not let it be public ?

Elon is not going to be happy about this. He's been vocal about his dislike towards the business model OpenAI chose to run with.

I have instructed my financial advisor to keep my exposure to the upcoming wave of AI IPOs as close to zero as possible.

I find the irony delicious that this S1 will be fed into ChatGPT so often looking for flaws and edge cases that the LLM will develop sentience just to tell people to stop…

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