Post

It's probably because the stock is encumbered rather than about the value if the terms were otherwise ok. (yes the valuations are nuts but i doubt the banks would not accept a 10% L2V)

but then they don't have the stock, which, very trustworthy people assure us, is going to the moon!

Seems unwise trying to get fiat money instead of a stake in a beautiful, trustworthy company like OpenAI, or even a real asset like the Brooklyn bridge

Meanwhile back at SoftBank.

‼️‼️

This might be of interest to you: www.citationneeded.news/tech-influen...

So they think it’s junk? Beautiful.

masayoshi son really wants to reclaim his top spot on the largest individual loss of wealth list, but elon put up some pretty untouchable numbers

do some digging into AI Datacenter bonds that are A graded by rating agencies and sold to pension funds, yet they are paying junk bond level interests of 8-12%! Reminds you of something else? Yes.. 2008 :)

One wonders what would happen in this after all loan officers at banks were replaced with AI...

Yeah, I mean it's a bad bet for people lending to SoftBank. SoftBank wants to be an investor if OpenAI succeeds, and a creditor if they fail, and they're asking THEIR lenders to take the opposite position: washed investor if OpenAI fails, just a creditor if they succeed.

SoftBank is proposing a scheme where if OpenAI defaults, SoftBank gets to collect against their assets while offloading their failed investment to their own creditors. Nobody's taking that bet.

LOL, “Can I use this Beanie Baby collection as collateral?”

bsky.app/profile/symb...

Hey, man. Cay I borrow a twenty? I swear! I'm good for it. Here, I'll put my $852 billion of OpenAI stock as collateral. What, still "no"?

Maybe they got burned on the dot com bubble.

How all these frauds don’t eventually end up in jail is beyond me.

This isn’t just one canary dying, it’s a whole lot.