Henry Blodgett
speaker
573 appearances
1 recordings
1 series
first heard May 2025
last heard May 2025
Henry Blodgett’s voice in public audio — every appearance, attributed to the second.
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Appearances
Three times 2029.
2029 revenue.
Okay.
A lot has to go right, but if you believe that open AI is going to win this next wave in the same way that Google or Amazon ultimately won the internet wave,
Three times revenue for that, even given that they're burning five billion dollars a year.
You know, you can see how professional investors who really actually do the know the numbers are getting there.
So I would just say if you look at that, that is probably the justification.
And then the other thing that people forget, or at least I don't hear when I hear this discussed, is that most professional investors are investing in preferred stock.
That's very different than public markets where we're buying common because you have downside protection.
Basically, for SoftBank and the others who just invested in open AI at 300 billion to lose money.
OpenI has to be liquidated at less than 40 billion.
Otherwise, they get all their money back off the top, and they may even have provisions in the deal that give them a ratchet on top of that that give them a return.
So it's very hard to really know what's going on.
But that's that's the thing.
So stepping back again, you look at that and you say, whoa, based on today's numbers, yeah, that is a fantastical valuation, but this is probably
what investors are looking at.
Now another point that Brad Gerstner and others have made about this is if you look back in the 1990s, what happened with internet companies.
We had the premier companies like Amazon and Yahoo had these phenomenal valuations.
And then there were all of the secondary companies that looked similar, did the same thing, were in the same market.
And a lot of investors who missed the big ones came roaring in.
Showing 41–60 of 573 · page 3 of 29
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