FB Carp 2025-11-16
Whenever a finance person says they're proud of some "financial innovation" or clever financial engineering idea they concocted... it's almost always a recipe for disaster.
It's like how you can identify scams by claims of "free money". It's never really free, there's always a catch. And if you can't identify the sucker...
""" The third area we've gotten into is really working with our ecosystem to do some really interesting financing deals. I'm particularly proud of the AMD warrant structure that we put in place just a few weeks back, 'cause it's very strong alignment of incentives. What we've seen is when someone comes out and says, "We're gonna work with OpenAI," they immediately are often seeing kind of impact on their stock price. And so to the extent that that's gonna happen, we would like to have some alignment on that. And I think Lisa and the team did something incredibly creative with that warrant structure. """ -- Sarah Friar, OpenAI CFO
It's like how you can identify scams by claims of "free money". It's never really free, there's always a catch. And if you can't identify the sucker...
""" The third area we've gotten into is really working with our ecosystem to do some really interesting financing deals. I'm particularly proud of the AMD warrant structure that we put in place just a few weeks back, 'cause it's very strong alignment of incentives. What we've seen is when someone comes out and says, "We're gonna work with OpenAI," they immediately are often seeing kind of impact on their stock price. And so to the extent that that's gonna happen, we would like to have some alignment on that. And I think Lisa and the team did something incredibly creative with that warrant structure. """ -- Sarah Friar, OpenAI CFO