Hedge Fund Manager: Sam Altman’s Latest Announcement Was A Panic Move To Justify $100BN Valuation

By Eric Peters, CIO of One River Asset Management

“China is a year or so behind the US in AI,” said Valley Boy, somewhere south of San Francisco. “And on top of that, it’s going to be extremely difficult for a police state to manage these models,” he said. “You feed them information, data, images, but can’t really predict their output,” said Valley Boy, Google Gemini’s recent images of female Popes and black Nazi’s fresh in his mind.

America's Founding Fathers, Vikings, and the Pope according to Google AI: pic.twitter.com/lw4aIKLwkp

— End Wokeness (@EndWokeness) February 21, 2024

“Governments will either need to scrub the model inputs or block unacceptable outputs. But the more you distort inputs and outputs, the less competitive these models will be.”

“Sam Altman announced plans to compete with Google in search,” continued Valley Boy. “Looks like a panic move – what you do when you haven’t figured out how to monetize your core OpenAI product,” he said. “To justify a $100bln valuation, you need to convince people you’re going to take a big chunk of a $1trln market. And that’s either online search, or, or, online search,” he said.

“The real profits will not go to the ones building these models, which will certainly become ubiquitous, but to guys that sell gold rush shovels like NVIDIA, Google, Microsoft. And to people like us who figure out how to use them.”