OpenAI
Note: Discussed as part of AI Financial Bubble topic by Mike Nelson during the OGM 2025-11-06 call.
Mike's Assessment
"OpenAI is the AOL of our day"
- Completely overinflated stock price
- Sam Altman using it to make deals
- Deals "not going to look very good in a year or two"
- Reminiscent of AOL-Time Warner merger (which failed spectacularly)
The Strategy
Altman "doing exactly the right thing" - using inflated valuation while it lasts to:
- Make acquisitions
- Form partnerships
- Build infrastructure
- Lock in advantages
The Bubble
Part of broader AI bubble discussion including cloud computing and AI chips.
Related Concepts
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