A successfully concluded blowoff
https://www.youtube.com/watch?v=s1D5LXlAPE0&list=UU9rJrMVgcXTfa8xuMnbhAEA - video
https://pivottoai.libsyn.com/20261019-coreweave-founders-cash-out-the-rest-is-mop-up - podcast
time: 5 min 13 sec
Ed’s I Told Ya So is going to be deafening this week
Super weird that Dan Luu still hasn’t apologised to Ed yet.
I’ve started procuring the popcorn. Cant wait.
Three of the founders of AI hosting company CoreWeave — Brannin McBee, Michael Intrator, and Brian Venturo — just announced yet another planned sale of CoreWeave stock, totalling over a billion dollars’ stock sales for each since the company went public. This means that whatever happens with CoreWeave and the AI bubble … they’ve got theirs. [Bloomberg, archive]
CoreWeave has never been a solid business. It spent the past three years piling debts on debts, because this was the AI revolution! This is the future! […]
I really try not to poke fun at names but those are three of the fakest-sounding names I’ve ever heard in my life
I forget what coreweave was.
There are too many of these companies to remember at this point, to be fair. I keep getting things mixed up with SoftBank.
Exactly. Like I know/ knew the name, but even in David’s article, it acknowledges they did a hard pivot, could even call it a few hard pivots since they’re inception.
You can’t blame people for not keeping track about what each and every random AI slop start up is about.
if only there were links that answered the question
I’m tempted to lower the banhammer just for the dancing-banana icon alone.
I guess we’ll never know.
(its a good article, and was nice and succinct. thanks for producing content)
They were the ones buying Nvidia chips using debt. The debt has gotten more expensive, and the demand for Nvidia chips has remained constant (which admittedly is high).
