Showing posts with the label VentureCapital

Posts

Burning Cash and Losing Billions! - The AI Gold Rush: A Fool's Gold?

So, you've heard about this new thing called artificial intelligence, right? It's supposed to be the next big thing, the digital equivalent of striking gold in the Klondike. People are throwing billions at it, like drunken sailors on shore leave. But here's the thing: most of them are losing their shirts. Burning Cash for AI: Is it a Fool's Game? Let's take OpenAI, for example. This bunch of tech wizards in San Francisco has created ChatGPT, a chatbot so smart it can write essays, solve math problems, and even crack jokes (though they're mostly groaners). It's like having your own personal AI assistant, except without the pesky human element. But here's the catch: OpenAI is burning through cash faster than a teenager on a shopping spree. They're losing billions, and they're not even close to turning a profit. It's like they're trying to build a castle in the sky with cardboard and glue. Now, you might be wondering, "How can a comp...