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JumpCrisscross 2 days ago

> OpenAI has made "less than a million dollars" in SF civic contributions

OpenAI and Anthropic are going to drop metric fucktons of taxes into California—and San Francisco—when they IPO.

phlakaton 2 days ago | parent [-]

Let's just say I'll believe that when I see it. Looks to me like they'll be operating at losses well beyond their IPOs.

JumpCrisscross 2 days ago | parent [-]

> they'll be operating at losses well beyond their IPOs

Doesn’t matter for taxes on wages, options, realized gains, distributions, et cetera.

phlakaton 2 days ago | parent [-]

Maybe wages if the company puts the IPO proceeds towards additional hiring. The other bits sound pretty speculative to me. I could see outside investors walking away with most of the early gains, leaving employees and locals underwater.

JumpCrisscross a day ago | parent [-]

> The other bits sound pretty speculative to me

Then they aren’t affecting housing. If gains are being realized to convert into real estate, they’re getting taxed. If they aren’t getting taxed, they aren’t hitting housing. (There are edge cases. But this isn’t an edge-case hypothesis. The folks selling shares in the private markets to buy mansions are paying taxes.)