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424

OpenAI, valued at $157 billion, isn't profitable. Should that be normal? (www.salon.com)

submitted 2 weeks ago by jeffw@lemmy.world to c/technology@lemmy.world

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[–] mrvictory1@lemmy.world 4 points 2 weeks ago (1 children)

Spotify hasn't made a profit at all since its inception afaik.

[–] OhVenus_Baby@lemmy.ml 1 points 2 weeks ago (2 children)

No way with their user base being so massive they are net loss. Can't be true

[–] DjMeas@lemm.ee 2 points 2 weeks ago (1 children)

Spotify on Tuesday said it anticipates reaching profitability for the full year in 2024, which would mark the company's first full profitable year since it launched 18 years ago.

https://www.axios.com/2024/11/13/spotify-projects-first-full-year-of-profitability-ever

[–] OhVenus_Baby@lemmy.ml 2 points 2 weeks ago

Wild. You would think they would have restructured somehow rather than banking on investor money in hopes that doesn't dry up and to be net loss for 18 years just goes to show there is too much dumb money in the system at play.

[–] mrvictory1@lemmy.world 0 points 2 weeks ago (1 children)

Labels take %70 of royalties, leaving Spotify %30. Also they dropped a lot of momey into podcasts. https://www.businessofapps.com/data/spotify-statistics/

[–] OhVenus_Baby@lemmy.ml 1 points 2 weeks ago

That is absolutely wild. These really aren't businesses if they aren't profitable and sustainable cash flow wise. When the money dries up your screwed. Hard times define the company not the peaks.

[–] aesthelete@lemmy.world 3 points 2 weeks ago

No.

[–] spujb@lemmy.cafe 2 points 2 weeks ago

Yes and it should be worse. OpenAI should be forced to take on the cost of compensating every copyright holder it exploited. If that means OpenAI doesn’t exist I’m absolutely okay with that.

[–] thisphuckinguy@lemmy.world 1 points 2 weeks ago

Chat GPT= Email Grammar Check.

[–] brlemworld@lemmy.world -1 points 2 weeks ago* (last edited 2 weeks ago) (3 children)

Isn't it a private company? They could say it's worth infinity trillion dollars...

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