Sacks argues OpenAI can justify its valuation because it has real subscription revenue, a dominant consumer position, and is displacing search — the most lucrative franchise on the internet.
OpenAI has actual revenue... they have subscriptions and they appear to have the dominant position in the consumer space. And it is a replacement for a lot of people for search, which is the most lucrative franchise on the internet.” ⚑
Chamath makes a bull case for OpenAI at a $500B valuation by projecting DAU growth to ~2B and applying a conservative fraction of Facebook's ARPU, arriving at a ~$1.5T terminal valuation.
if you take 400 or 500 million MAO DAO growing at... 50%... 500 goes to a billion, billion goes to 2 in 4 years. And at 2 billion DAO, they generate a 10th of Facebook's revenue... And you probably get to a trillion 5 valuation there.” ⚑