The Prodigal Son of Tech and AI Right Now

Sam Altman is trying to raise $500 million in the private market for his beauty company. He's hoping that investors and SPACs are really fucking stupid, he says. If this thing had anything resembling a viable business model, Goldman and Morgan Stanley would be lined up with it - but they're not doing an IPO. The margins in makeup or in beauty are enormous; you'd give it more of the brand equity than you probably could have back on public markets.