TechTakes

The subtext sounds like "we guarantee your returns, then go public. If we go bankrupt you get the retail investors' money, if we become the next Google you get your own private island." All you have to do is trust Sam Altman and (breaks out in hysterical laughter).

Do they mean 17.5% a year? My balanced bond-equity portfolio made 14-15% annual returns over the past three years by the radical method of buying "shares of companies that make profits" and "bonds backed by my local and national government."

They know private equity is almost tapped out, and whoever is first in this latest round will grab the largest portion of what's left. I don't know if it's the end game, but all but the most delusional investors are starting to ask where the returns are after years of the same promises

Simple. When it comes time to repay that investment, they'll just get the money from new investors, offering them even higher returns!

Charles Ponzi, looking up from hell

“Jesus Christ, they’ve perfected the art!”

knock knock

Wallet Inspector!

Private equity will find a way to make people use AI, they will likely force cities into contracts to use it for whatever stupid reason they dream up.

I watched The Big Short again last night. It's absurd how we seem to be going through the exact same steps as the subprime crisis did, not even 20 years later.

to invest, put your money in that hole