Snapshot · This Week in Tech (Audio)
Independently verified financial documents obtained by Ed Zitron and the Financial Times show OpenAI lost $38.5 billion last year, though much of that reflects non-cash restructuring from nonprofit-to-for-profit conversion.
Where this was said
At 48:15 · chapter starts 46:10
Leo brings the data that reframes the entire Fable ban story: according to RAMP, Anthropic's share of paid AI business subscriptions rose 2.5 percentage points in May to 41%, beating OpenAI's flat 39.5% — and the timing suggests the ban itself was the catalyst. Owen observes dryly that 'every time they get banned, they get more customers.' Anthropic had long been the insider's choice for software engineers but lacked OpenAI's name recognition. The ban changed that instantly, turning Fable into forbidden fruit.
OpenAI's independently verified financials show a $38.5 billion loss last year. But most of it is non-cash — nonprofit-to-for-profit restructuring and stock compensation. The real question is whether the underlying business can ever generate enough revenue to justify a near-trillion-dollar valuation.
Bhanu grew SiteGPT to $13,000 monthly recurring revenue entirely through organic channels, spending nothing on paid marketing.
More than 1 million people have visited SiteGPT's website since launch in March 2023, all through organic channels.
Approximately 90% of SiteGPT's Google search traffic comes from the free tools Bhanu built, not the main product pages.
Bhanu sold his first SaaS product, Feather, for $250,000 so he could focus fully on the faster-growing SiteGPT.
SiteGPT has generated approximately $500,000 in total revenue since its launch in March 2023.
The average customer lifetime value for SiteGPT is approximately $1,700 to $1,800, which Bhanu considers unusually high.
SiteGPT receives around 50,000 visitors per month, of which about 200 convert to leads and 60 start free trials.
SiteGPT hit $10,000 MRR within its very first month of launch, driven largely by early traction in the AI chatbot space.
Despite strong download numbers, PropGPT could not push past $1,000–$2,000 MRR due to poor product retention.
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