Post B6fB4SMl4biogC25nU by chx@chx.contact
 (DIR) More posts by chx@chx.contact
 (DIR) Post #B6fB4SMl4biogC25nU by chx@chx.contact
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       What's the best summary I can give to a near 80 year old couple to convince them to stay out of the OpenAI IPO?cc @davidgerard
       
 (DIR) Post #B6fB4SZAKTe9Ifq08W by linear@nya.social
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       @chx@chx.contact @davidgerard@circumstances.run first of all, Enron has nothing on what these people have done to the market.second of all, frankly, it's a deceptively bad time to make plays of any kind as an individual in the stock market. if you're not doing this stuff for a living with the requisite amount of safety that you'll have if this is your career, you are playing with fire. not just because of the AI funding ouroborous, but also because of other major players that are doing sketchy things and pushing regulatory boundaries. just for one example see SpaceX, who has managed to get rules in the NASDAQ changed such that (as i understand) it's now going to be possible to buy in on the IPO before the valuation process properly concludesif you have money and you want to invest it, it belongs in an index fund where someone else is managing this risk for you. going for these IPOs instead is just gambling, and you'll probably be in for less distress if you spend it on a trip to Vegas instead.
       
 (DIR) Post #B6fBjBCRnmmjJPd0me by linear@nya.social
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       @chx@chx.contact @davidgerard@circumstances.run as i've told one of my own grandparents and several other older folks, if you really, really want to invest in something yourself, the better option is probably energy, especially renewables. one of the ways that the market is behaving irrationally is in its refusal to acknowledge the skyrocketing profitability of solar energy in comparison to fossil fuels. that will change at some point.we need more energy regardless, so it's a relatively safe bet in the first place. on top of that, if these AI companies somehow do pan out, energy availability is going to be a hard bottleneck on them, and more of it is going to be in high demand.but again, only after you have enough money in an index fund to live entirely off of by drawing no more than 3.5% per year, otherwise you're being irresponsible with your money