[raincole]

> Same goes for almost every other hyper-growth company in the history of tech

Except it's not true. No one lost $38.5B in a year just to 'hyper-grow' or whatever it means. Uber accumulated ~$30B loss over a decade.

Edit: I read it wrong. The loss was mostly caused by one-time event[0]:

> Before OpenAI’s switch late last year to become a public benefit corporation, investors in the company received convertible interest rights rather than conventional equity. Under US accounting rules, those interests were treated as liabilities and periodically revalued as the company’s valuation increased.

It looks like that OpenAI is actually quite in line with other companies that lost money to grow.

[0]: https://www.ft.com/content/e15b0d7e-ff6b-4f16-ba7a-4068feddb...

[Retric]

Depreciating assets is one of several possibilities.