Totally blind on this, hoping for someone to shed some light: do these investors get some pitch, information or some roadmap of what company intends to create, how will it earn revenue, how will it spend money or how will it operate?
I heard this on a reddit thread a while back but rings very true here.
> If you are seeking capital for a startup with a product, you have to sell the startup on realities (ie how much revenue you are making). If you are seeking capital for a startup with no product, you can sell the startup on dreams, which is much much easier but also way riskier for investors.
Since these guys don't have a product yet, they 100% sold it on big dreams combined with Ilya's track record at OpenAI.
I’m sure they have a pitch deck. It’s pretty obvious a big chunk will go to compute costs for model training & research. But mostly it’s about the people in any company at this stage, same as any seed funding but on a different monetary scale.
