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blitzar 2 days ago [-]
Is the "mic drop" in the headline refering to how bad a deal this is for any startup that takes it?
shimman 3 days ago [-]
What a great way to boost usage before an IPO. Definitely not scammy behavior!
1123581321 3 days ago [-]
This sounds like how you get (or at least used to get) free AWS and Azure credits in your first x years as a startup or until you met revenue thresholds. You wouldn't get as many, but, you didn't have to give up a share of your company, to my knowledge.
Were there actually larger credit grants that would've been in exchange for equity, or, is OpenAI doing something novel?
jonahbenton 3 days ago [-]
The desperation is strong in this one
KHRZ 3 days ago [-]
If that's in API price, they may be better of with the subscription.
dude250711 3 days ago [-]
Adding more layers to circular investments.
bravetraveler 3 days ago [-]
The first taste is free, with a certain perspective on equity
altairprime 3 days ago [-]
Isn’t that a taxable gift, i.e. reportable income for the recipient, given the normal price charged for said tokens, though?
bravetraveler 3 days ago [-]
I have no idea, just a BigCo engineer! Like someone getting hooked... taxes are a Later Problem. Anyway, the deal sounds less like a 'mic drop' and more like something else hitting the table.
Say 'Whizbang Model 6.8' comes out and tokens burn ~5x faster; what to do? Agree to give up less of the business or hope for proportional growth? The two million that had been agreed is no longer truly available/applicable. How this and the equity 'shake out' are probably relevant.
At risk of upsetting people, token value is arbitrary. What model, what time of day? What transaction? All to say: I have no idea what the Tax Man or our fake business would want :) Above my pay grade, thankfully!
HWR_14 3 days ago [-]
No, because it's an investment for equity
kotaKat 2 days ago [-]
It's just a little casual grooming for customers to prey on, is all.
red-iron-pine 2 days ago [-]
the tokens are real electricity and capacity.
in ~3 years that equity may be worthless.
seattle_spring 3 days ago [-]
> i am excited to see what will happen with tokenmaxxing startups, both for how they work internally and the products they can build.
Am I the only one who gets a physical, visceral churning in their gut when they read/hear someone unironically using the term "tokenmaxxing"?
This is the absolute worst timeline, and I'm embarrassed to even be in an industry adjacent to these dorks.
dpoloncsak 2 days ago [-]
This is not in defense of tokenmaxxing, I just want to remind that CompSci has already been full of ridiculous names that we all just got used to.
Bogo sort, Canary, and Rubber-Ducking come to mind
Even BASH comes from 'Borne Again SHell', since they re-did what Stephen Bourne made, and it sounds like 'Born Again'
red-iron-pine 2 days ago [-]
10 years ago i'd never had imagined i'd be using the word 'kubernetes' or 'kube' on the regular
at least tokenmaxxing has a straightforward implication, and the maxxing implies idiocy or excess
seattle_spring 2 days ago [-]
> Bogo sort, Canary, and Rubber-Ducking come to mind
None of those come from such a deep hell as the "looksmaxxing" community.
xg15 2 days ago [-]
Is the term "tokenmaxxing" now really used unironically and as a desirable thing?
bigbuppo 3 days ago [-]
Hey, it's the thing I said was going to happen. Thank's for taking my suggestion, Sam.
just_once 3 days ago [-]
I thought code was free now
JacobAsmuth 3 days ago [-]
Good ideas are expensive. Which is why he's blanket investing, to catch the winners.
just_once 2 days ago [-]
But why would they agree? Coding is free (or at least $200 a month)
dTal 2 days ago [-]
Reminder that "$2 million worth of OpenAI tokens" is meaningless and codes for "as much access to OpenAI infrastructure as Sam Altman feels like letting you have".
interstice 2 days ago [-]
It could be at cost, but probably not
mawadev 2 days ago [-]
Very odd shadow economy that is in the making here.
interstice 2 days ago [-]
Like sci-fi with currency based in kwh or life minutes but this time it's tokens
moogly 3 days ago [-]
Sounds like they have an oversupply of these tokens.
sellmesoap 3 days ago [-]
It's only a token offer... I'll see myself out.
Rp8yXmdmr 2 days ago [-]
> $2M in OpenAI tokens
How about real money or even Apple Gift cards?
phendrenad2 3 days ago [-]
Maybe they can borrow a few OpenAI engineers too?
dbbk 2 days ago [-]
No thanks
cyanydeez 3 days ago [-]
so weve officially reached the gambling sddiction portion of the LLM show. good luck FOMO
Were there actually larger credit grants that would've been in exchange for equity, or, is OpenAI doing something novel?
Say 'Whizbang Model 6.8' comes out and tokens burn ~5x faster; what to do? Agree to give up less of the business or hope for proportional growth? The two million that had been agreed is no longer truly available/applicable. How this and the equity 'shake out' are probably relevant.
At risk of upsetting people, token value is arbitrary. What model, what time of day? What transaction? All to say: I have no idea what the Tax Man or our fake business would want :) Above my pay grade, thankfully!
in ~3 years that equity may be worthless.
Am I the only one who gets a physical, visceral churning in their gut when they read/hear someone unironically using the term "tokenmaxxing"?
This is the absolute worst timeline, and I'm embarrassed to even be in an industry adjacent to these dorks.
Bogo sort, Canary, and Rubber-Ducking come to mind
Even BASH comes from 'Borne Again SHell', since they re-did what Stephen Bourne made, and it sounds like 'Born Again'
at least tokenmaxxing has a straightforward implication, and the maxxing implies idiocy or excess
None of those come from such a deep hell as the "looksmaxxing" community.
How about real money or even Apple Gift cards?