00:00 Speaker A
Open AI continues to see management changeover. Um, it’s uh chief revenue officer who just started what in December,
00:06 Speaker B
That’s right.
00:07 Speaker A
is now already being replaced and there are uh a bunch of executives who have left since April. I was going to say over the past year, but it hasn’t even been the past year.
00:15 Speaker B
Not a strong pre- IPO story.
00:16 Speaker A
No, and at the same time though, I feel like this came out, everybody’s like, uh oh. And then somebody leaked to Bloomberg that Open AI um is looking at an annual run rate uh for revenue of $40 billion. I I mean, maybe I’m again a little conspiracy minded, but like,
00:30 Speaker A
you know, yesterday the news that the Chief revenue officer was leaving was like, wow, what’s going on over there? And then they’re like, well, we better get out a positive story.
00:36 Speaker B
We’re making a ton of money.
00:37 Speaker A
Yeah, they’re making.
00:38 Speaker B
Like her forecast was only like 20 plus billion dollars on a run rate and now they come out with this news new higher. And now it’s like 48. Things are going really well if you think about subscription sales and their ad business, which really hasn’t even started. So, maybe they’ll get to that run rate, but in the uh run up to the IPO, they want to make the numbers seem as good as possible.
00:54 Speaker A
Of course.
00:54 Speaker B
Management shakeups are never good, but sometimes the people that got you there are not the people that will bring you there once you become public.
1:03 Speaker C
Well, that’s the point, right? These are not audited numbers. These are these are numbers that the companies put out that they estimate and they have no reason to be significantly altering these because eventually if they want to go public, that will show, but it is important just to know these are projective numbers.
1:19 Speaker A
Mhm.
1:20 Speaker C
They are optimistic at all times because you want the strongest IPO possible.