This is a most excellent place for technology news and articles.
Interesting. I thought companies usually waited until they at least had a good product or cashflow before going for enshittification.
It is odd that the 3 big players are trying to rush to IPO... probably to dump their shit and cash out before the bag holders have time to sell... I've got a feeling they know it's going to crash soon.
They have to beat OpenAI and SpaceXitter because they're afraid the investors will jump on the first AI bandwagon that comes around and have less or no money for them.
And there is a waiting time after the IPO before cashing out is possible, half a year or so. Critics with some knowledge expected the bubble to pop somewhere in 2027, so with the half year waiting period they have to make their move soon or they'll sell on the downslope.
Well they'll have the insider knowledge before anyone else.
They have a lot less runway to enshittify than everything else we've seen recently. Because AI is way more expensive than anything else we've gotten for "free". Which means they're already on borrowed time.
Hopefully they get it over with sooner rather than later. The longer it takes, the more my retirement savings gets fucked.
Got to cash out their shares using your pension fund before they go bankrupt.
Is there any way to get my 401k to not invest in this shit?
I don't want my entire retirement to go up in smoke... Again. There isn't even that much of it 😭
Real answer:
Depends on who manages your 401k. Some servicers do allow 'custom' or otherwise 'alternative' management options, with some allowing you to focus on specific companies or industries.
Others might take your call at least and if you raise enough of a stink you might get shoved into an alternative plan out of spite, but that's what you want, so you win.
Joke Answer
Take out all your money, pay off the fee, use the money to buy a used Komatsu D355A crawler tractor and at least a half pallet each of of concrete bags and rebar as well as an extra diesel tank and a decent amount of diesel. Then just find your local senator's personal home and
Classic Killdozer
My split is currently 10% traditional "retirement target date" 20% small cap US and 70% International Index. All Vanguard. There are also emerging market and more granular international funds. Talk to your servicer.
You forgot about option 3: VC money ran out
we will know things have gotten worst, when conferences suddenly stop hositng AI startups events/ideas all the time. conferences near where i work is soley only doing AI related events nothing else. adjacent industry will likely suffer to like catering food to Ai companies.
It’s a speedrun 🙃
Thing is, they tried to show that public adoption was large enough to warrant a $100B+ value, that basically everyone wanted AI. That was the difference between a $20B valuation and 100+. But several failures have occurred the last few months that hints at the public at large not wanting to adopt their tech in such quantities and the longer they wait the worse a signal it might send for the IPO. Lack of adoption, lack of progress towards AGI, dwindling returns, ballooning costs.
I estimate that the AI bubble will burst pre-IPO or during the IPO, thus not affecting the public at large. There's still a risk that they fudge the IPO numbers hard enough to create FOMO and people wanting to buy but they'd have to go dangerously close to fraud territory to make a good case. Just watch out for the first AI IPOs. There's likely a smaller AI company that'll go first that'll be a canary in the coal mine. If their IPO succeeds the big boys will make an attempt but if it fails they'll likely postpone an IPO indefinitely, making it a long, dragged out market correction, not a quick pop.
how can you file confidentially for a public offering?
that's like throwing a public party where you are expecting to make money of the cover charge but not telling anyone about it
Poor wording. The content of the filing is confidential, not the act of filing.
I had read confidently and was like I bet you smug bastards.
But don’t the public investors need that info to decide? Like a prospectus?
I don’t know that much about IPOs. I’m just assuming.
First the SEC and other authorities need to vet the offering. By filing confidentiality this initial stage is kept from competitors.
It means that instead of filing publicly 90-120 days ahead, they can hold off public prospectus to 21 days ahead of launch.
Well that's shady as fuck.
First an IPO has to get SEC approval. A confidential filing means they send the information to the SEC without it being generally available. The public prospectus follows after approvals are given.
Let the unhinged enshitification begin!
...begin?
I feel the enshitification is still yet partially hinged.
Wait how can they make it worse?
By financially dragging anyone they can else they can in with them, in a desperate reach for riches. Or is it a desperate reach to try and cover their losses?
Probably both.
The usual IPO: layoffs, increase the price of the subscription, ads in the results.
Well, they were one of the best of the turds. I was kind of hoping they'd stick around and be a mitigating force on the AI market that at least taps the brakes on all the bullshit. Seems unlikely now.
Don't underestimate their creativity when it comes to making things worse for the plebs
Does the US Stock Market even mean anything anymore? It's been screwed and manipulated by so many people it's mostly a dead corpse that holds no real value for society anymore. Just a broken money tool of the rich.
I think, at this point, it's really just like a dozen people trying to control the world via trading money that is essentially meaningless to them.
And holds peoples retirements and investments.
Since you have very few places to put money into that won't get eaten by inflation.
i cant wait until the bubble bursts and every single ai company collapses
I can. They're propping up the whole stock market at this point. Pretty much the definition of "too big to fail." So when they inevitably fail, Congress is going to give them our tax dollars.
Congress is already giving them your tax dollars. They've gotten a number of tax breaks and subsidies.
A company worth 4 billion has produced 5 billionaire..its all a crock. Apologies, thought we were talking of Palantir.
I worked for a company once that went IPO and we had stock units assigned to us.
CEO: Companies try to stay private for as long as they can, they don't just IPO for the hell of it. They're trying to solve a problem with money. Maybe they owe people money, maybe they need to spend a bunch of money to take the company to the next level. An IPO doesn't fix any problems; rather, it turns one set of problems into a bigger, harder set of problems.
Founders try to cash in. They've raised the cow, now's the time to send it to the butcher for parts
Time to short the fuck out of them, I guess.
You absolutely should do that.
I really hope that some of these big players in the AI market will stay private. There are already enough headwinds to them being a force of good in the world without having to report to shareholders of the lowest denominator.
I assume they are all running for the public exit because they are losing money faster than they can raise it and don't have any reliable business models to which they can transition in the near term. If they can't become profitable, the next best thing is to go public while the hype is hot and to cash out ASAP.
Why do all these headlines say that a company "confidently" files for an IPO? I'm assuming it's just AI, but man is that tired and confusing.
As the Bloodhound Gang said: Lift your head up high, and blow your brains out.
*Whoops, that's confidentially, not confidently. Still.
Hmmm, well that can only go really bad or really good for investors, I would think. No middle ground here. It just depends on what the mob does.
