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> While Altman’s lack of initial equity reportedly gave investors pause in 2019... Initial equity. Doesn't say anything about whether he has an agreement in p
by bsuvc 4y ago
> While Altman’s lack of initial equity reportedly gave investors pause in 2019...
Initial equity.
Doesn't say anything about whether he has an agreement in place to receive future equity.
Does he have any options or warrants?
Is he a member of, or LP in, any organization that invested?
Did the reporter not ask any follow up questions?
Or was this careful phrasing ("initial equity") intentional?
- bmelton 4y ago> For Altman, it’s not about money, either. One of the most surprising things in all of this is that he does not own even a tiny piece of OpenAI, which highlights the unusual nature of this company and the entire AI industry. It's not in the cropped bit, but the original Semafor article this clips from closes with that
- threeseed 4y agoShareholders and the company will also inevitably have an Employee Share Scheme. At that point as CEO he will have equity and benefit.
- JohnFen 4y agoOr just an agreement from, say, Microsoft that once they've made a certain amount of money, Altman gets a sizeable one-time payout.