How AI companies relatively cheap to keep running?
Aren't they well known to spend a lot in GPUs for training?
I always saw AI companies as actually quite relative expensive companies to keep running.
I wouldn't call the bitmex guys scammers. They were found guilty of not implementing proper anti money laundering regulations but didn't really steal money I think. They also invented perpetual futures which have been a very successful financial instrument. They were only sentenced to six months house arrest for Hayes and probation only for Delo, all served a while ago.
SBF on the other hand did bad stuff and has only served one year out of a 25 year sentence and I'd be a little surprised if he's out in a hurry.
He can now use the money raised by xAI, to pay off the debt of X, which was bleeding money.
So today in corporate America we have:
- Trump pardoning one of the most obvious scammer of the past 10 years - Trevor Milton
- Trump pardoning some obvious crypto scammers
- Musk using investors money from one of his companies, to bail out his another company, at the valuation he himself set
Unprecedented times. The damage to the rule of law will be hard repair - it will take decades.