Trying to hand wave away a 10M stake in OpenAI taken when they were valued at <1Bn and then trying to weasel out by saying profit is capped. Why yes it is Paul, at 100x initially with the cap raising by 20% a year. And then trying to claim that the PPUs aren’t liquid despite regular liquidity events being the entire reason we know OpenAIs current valuation.
Didn’t think I’d see the founder of YC try the “I’m a moron who doesn’t understand how investments work” defense.
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Paul Graham comes off as such a gormless chump.
Trying to hand wave away a 10M stake in OpenAI taken when they were valued at <1Bn and then trying to weasel out by saying profit is capped. Why yes it is Paul, at 100x initially with the cap raising by 20% a year. And then trying to claim that the PPUs aren’t liquid despite regular liquidity events being the entire reason we know OpenAIs current valuation.
Didn’t think I’d see the founder of YC try the “I’m a moron who doesn’t understand how investments work” defense.
Incorrect round