Wow! These researchers really cracked ChatGPT.
They created an effective data extraction attack by querying the model.
As a result, they extracted several MBs of ChatGPT’s training data for ~$200.
They estimate they could extract even more:
@GrahamStephan This is wrong at a basic level. Yes, the investor would've returned less than half a million, but the hedge fund wouldn't have earned $4m unless they reinvested all fees into their fund. On my math, investor turns $1k into $487k and pays $188k in fees w/ fund at a 20.4% CAGR
If you invested $1,000 with Warren Buffett in 1965, it would have grown to $4.3 million by 2010.
However, if Berkshire had been a hedge fund charging 2 & 20, that $4.3 million would have accrued $300k to the investor with a stunning $4m to the manager.