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Enron was a literal energy company, and also vaguely "the next big thing", "America's Most Innovative Company". There's a lot of parallels with how OpenAI is being hyped up and whether it actually merits a 12-13 figure valuation. See also WeWork, et al.

Given what we know about the CEO, it would not come as a shock if in a couple years we learn there was some good old accounting fraud involved.

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Enron was a scam energy company pretending to be kind of a tech company, like it’s contemporary Worldcom (the scam telco pretending to be a tech company, scam companies are common in the south). Whether OpenAI is a scam or not, it’s definitely tech and nothing else.

Enron was an energy futures brokerage/exchange that made the age old mistake of market making your own order book with unlimited margin from... yourself. Always very tempting, never a good idea.

It's exactly the same thing FTX did except with energy instead of crypto.

AFAIK they never misrepresented who they were, they were just very loose with their accounting. It probably started out as a small lie to themselves like those things tend to.

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