"Tim Draper, the legendary venture capitalist who became a billionaire through early bets on Skype, Hotmail, Tesla, and Baidu, says it is too early to know if OpenAI will be the ultimate winner of the AI revolution."
"'OpenAI is the equivalent of AOL in the first internet wave,' Draper said in a wide-ranging interview this week, where he discussed his views on investing in AI and his enthusiastic embrace of the technology, which includes creating multiple avatars of himself. 'AOL and Netscape were the center of everything, and then came Yahoo and then Google.'"
"'It had such a weird structure that I didn't do it,' Draper said. 'I probably should have.'"
"Many people, even OpenAI CEO Sam Altman, have been sounding alarm bells about an AI bubble. Draper said there will indeed be a bubble bursting. 'We're at the top of the hype,' he said, 'It'll dip, then explode upward again and be bigger than anybody ever imagined.'"
Tim Draper became a billionaire through early investments in Skype, Hotmail, Tesla, and Baidu. OpenAI is compared to AOL in the first internet wave, with AOL and Netscape as early centers followed by Yahoo and Google, indicating uncertainty about ultimate winners. OpenAI is described as fantastic, yet its unusual non-profit structure limited investment upside. The AI sector is assessed to be at the top of a hype cycle that will dip before surging far larger than imagined. Bubbles create hype and many losers but also major monetary opportunities as AI proves transformative. Multiple AI avatars were created from years of Draper’s speeches and writing.
Read at Business Insider
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