- cross-posted to:
- techtakes@awful.systems
- cross-posted to:
- techtakes@awful.systems
Three of the founders of AI hosting company CoreWeave — Brannin McBee, Michael Intrator, and Brian Venturo — just announced yet another planned sale of CoreWeave stock, totalling over a billion dollars’ stock sales for each since the company went public. This means that whatever happens with CoreWeave and the AI bubble … they’ve got theirs.
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CoreWeave was founded as a cryptocurrency miner.
This explains so much.
CoreWeave’s main business was as a backup provider for the hyperscalers when they couldn’t build out their own data centres fast enough.
This is such a damning sentence.
Our business model is to build the thing industry-leading professionals already built but just don’t want to build more of because it would MAKE THEM TOO MUCH MONEY. What we can currently offer is no institutional experience, which we will improve rapidly because we also have no data centers.
Seriously, if there’s a bailout, the class war needs to have two sides waging the conflict.
They’re gonna stay disgustingly privileged while we continue to pay for it.
As their kind always do. The only thing that changes that is a Mario Party. Ever.
