OpenAI Is a Systemic Risk to the Tech Industry

Before we go any further: I hate to ask you to do this, but I need your help — I'm up for this year's Webbys for the best business podcast award. I know it's a pain in the ass, but can you sign up and vote for Better Offline ? I have never won an award in my life, so help me win this one. Soundtrack: Mastodon - High Road I wanted to start this newsletter with a pithy anecdote about chaos, both that caused by Donald Trump's tariffs and the brittle state of the generative AI bubble. Instead, I am going to write down some questions, and make an attempt to answer them. How Much Cash Does OpenAI Have? Last week, OpenAI closed " the largest private tech funding round in history ," where it "raised" an astonishing "$40 billion," and the reason that I've put quotation marks around it is that OpenAI has only raised $10 billion of the $40 billion, with the rest arriving by "the end of the year." The remaining $30 billion — $20 billion of which will (allegedly) be provided by SoftBank — is ... Read full article.