A few weeks ago I passed on a deal to acquire OpenAI shares for a 4th time, this time at $500B valuation through a platform for accredited investors.

The last 3 times it was valued at $80B, $157B and $300B.

Each time I thought for sure that won’t last.

I was at Uber in 2016 when it became the most valuable private company in the world at $62.5 Billion. OpenAI just *raised* nearly double that and is worth 12x more.

I watched $UBER plummet shortly after IPO to a 3-year low which helped changed my perspective on valuations.

OpenAI’s revenue is at a $25B annual run rate. Tech startups valuations are typically benchmarked against a “revenue multiple” between 10-25x.

OpenAI is currently way over at 35x but their rate of revenue growth has been the fastest in history. So it’s feasible they can fit comfortably in the 10-25x range this year.

I admit, I just hit the wait list button in case anyone backs out of the deal to acquire the shares. FOMO is starting to set in. But I’m still cautious.

The potential is there but everything would have to go right, there’s a lot of unknowns.