I think the only certainty here is what Sam Altman chooses to say in public is very much in Sam Altman's interests.
So working back from that:
- The IPO is the way to convert theoretical riches into real riches. Indeed if OpenAI business model never actually works out it may be the only significant chance.
- They want a large retail investor ( driven by hype and not numbers ) component to the IPO to maximise gain.
- They fear that the open public hostility to AI and AI companies put's this at risk.
- Hence the about face on the messaging. THe first messaging about job reductions was about the value OpenAI could capture - that was aimed at initial investors. Now they want to take money from the general public - so a different message.
I asked OpenAI for comment on the above ( via ChatGPT of course ).
The two things it added is that being seen as too disruptive/unpopular creates regulatory risk which could impact future growth and profits, and also secondary reputation risk for investors both which might impact the IPO.
So working back from that:
- The IPO is the way to convert theoretical riches into real riches. Indeed if OpenAI business model never actually works out it may be the only significant chance.
- They want a large retail investor ( driven by hype and not numbers ) component to the IPO to maximise gain.
- They fear that the open public hostility to AI and AI companies put's this at risk.
- Hence the about face on the messaging. THe first messaging about job reductions was about the value OpenAI could capture - that was aimed at initial investors. Now they want to take money from the general public - so a different message.