Surely you can spot the similarities if you try hard enough? If not, maybe we can ask ChatGPT about it (below is ChatGPT's "opinion" on the similarities between Enron and OpenAI):
Structural Complexity & Opacity:
- Enron was infamous for its convoluted corporate structure, which helped obscure financial realities.
- OpenAI has a similarly complex setup: originally founded as a nonprofit, it now operates through a for-profit arm with a structure that some critics say lacks transparency.
Investor Hype vs. Financial Fundamentals:
- Enron attracted massive investment based on future projections, not present performance. Its ventures, like NewPower Co., had no clients or revenue but were valued in the billions.
- OpenAI has been valued at over $300 billion despite not turning a profit and having no clear path to profitability. Critics argue this is reminiscent of Enron’s “vibes-based” valuation.
Leadership & Ethical Concerns
- Enron’s leadership was later revealed to have serious ethical lapses.
- OpenAI has faced scrutiny over leadership turnover and internal conflicts, raising questions about governance and long-term stability.
Grandiose Predictions:
- Both companies have been known for bold, sweeping claims about the future. Enron promised revolutionary energy solutions; OpenAI is at the forefront of AI’s transformative potential—but some worry the hype may be outpacing reality
Come on: openAI has a product that you can "touch" - both on your phone /home computer and at work, since their tech sits behind copilot (msft hit the jackpot with the licence).
It is a virtual product yes, but come on - no vapoware.
At work I see it - people want the better (and more expensive ) licences
Enron was a literal energy company, and also vaguely "the next big thing", "America's Most Innovative Company". There's a lot of parallels with how OpenAI is being hyped up and whether it actually merits a 12-13 figure valuation. See also WeWork, et al.
Given what we know about the CEO, it would not come as a shock if in a couple years we learn there was some good old accounting fraud involved.
Enron was a scam energy company pretending to be kind of a tech company, like it’s contemporary Worldcom (the scam telco pretending to be a tech company, scam companies are common in the south). Whether OpenAI is a scam or not, it’s definitely tech and nothing else.
Ok, and? Last I heard were talking about OpenAI, not Enron.
Surely you can spot the similarities if you try hard enough? If not, maybe we can ask ChatGPT about it (below is ChatGPT's "opinion" on the similarities between Enron and OpenAI):
Structural Complexity & Opacity:
- Enron was infamous for its convoluted corporate structure, which helped obscure financial realities.
- OpenAI has a similarly complex setup: originally founded as a nonprofit, it now operates through a for-profit arm with a structure that some critics say lacks transparency.
Investor Hype vs. Financial Fundamentals:
- Enron attracted massive investment based on future projections, not present performance. Its ventures, like NewPower Co., had no clients or revenue but were valued in the billions.
- OpenAI has been valued at over $300 billion despite not turning a profit and having no clear path to profitability. Critics argue this is reminiscent of Enron’s “vibes-based” valuation.
Leadership & Ethical Concerns
- Enron’s leadership was later revealed to have serious ethical lapses.
- OpenAI has faced scrutiny over leadership turnover and internal conflicts, raising questions about governance and long-term stability.
Grandiose Predictions:
- Both companies have been known for bold, sweeping claims about the future. Enron promised revolutionary energy solutions; OpenAI is at the forefront of AI’s transformative potential—but some worry the hype may be outpacing reality
Hope that helps :)
Come on: openAI has a product that you can "touch" - both on your phone /home computer and at work, since their tech sits behind copilot (msft hit the jackpot with the licence).
It is a virtual product yes, but come on - no vapoware.
At work I see it - people want the better (and more expensive ) licences
Enron was a literal energy company, and also vaguely "the next big thing", "America's Most Innovative Company". There's a lot of parallels with how OpenAI is being hyped up and whether it actually merits a 12-13 figure valuation. See also WeWork, et al.
Given what we know about the CEO, it would not come as a shock if in a couple years we learn there was some good old accounting fraud involved.
Enron was a scam energy company pretending to be kind of a tech company, like it’s contemporary Worldcom (the scam telco pretending to be a tech company, scam companies are common in the south). Whether OpenAI is a scam or not, it’s definitely tech and nothing else.
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