Sam Altman was raising a VC fund when OpenAI fired him

https://www.semafor.com/article/11/17/2023/openai-board-fires-sam-altman

by mfiguiere • 3 years ago

61 15 3 years ago

rajaman0• 3 years ago

This article presents no source for this claim, and the rest of the article is re-hashing stuff that has been well covered

This is clickbait - publications should report on facts and confirmed sources, not speculate and try to get clicks.

minimaxir• 3 years ago

"according to a person familiar with the matter" is a source.

ohdannyboy• 3 years ago

No it isn't. It's a plea from a journalist to trust that they actually have one and have the judgement to vet if the source is any good.

It's no more credible than the reporter, and I've never heard of this one.

freedomben2• 3 years ago

Being riddled with ads also doesn't increase my trust level. This really seems like their attempt to capitalize on the crazy level of interest right now.

RadixDLT• 3 years ago

lol, if you were using brave browser you will see no ads

dkarras• 3 years ago

I mean even the first sentence of the article is factually incorrect. He did not "step down".

tonyhb• 3 years ago

Plenty of people invest on the side, founders or not. It's not uncommon.

gbolcer• 3 years ago

First rule of startups. Never lie to your board. Second rule, never lie to your CEO.

ianhawes• 3 years ago

Altman, unusually, didn’t have equity in OpenAI
Altman was part of the original group of tech leaders that invested $1 billion to launch OpenAI in 2015

Err, does he have equity or does he not?

jedberg• 3 years ago

Not. He put up money for the non-profit that was basically a donation.

next_xibalba• 3 years ago

It was founded as a non-profit. So that $1B was not in exchange for equity. They changed to a capped profit model in 2019. As part of this, Open AI Global LLC was created. This for profit (capped at 100x initial investment) is controlled by the original OpenAI LLC. Employees were granted something like profit participation/equity in Open AI Global LLC, and new investments went into this entity under similar terms. Altman has repeatedly claimed no equity, so, taking him at his word, he did not participate in whatever the profit participation/equity arrangement that was made for employees and new investors.

neonate• 3 years ago

https://web.archive.org/web/20231118004057/https://www.semaf...

https://archive.ph/vbt3I

Sam Altman was raising a VC fund when OpenAI fired him

Related Stories