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On paper, Sam Altman would have made everyone on the board billionaires. For them to vote him out in this manner indicates that he must have done something egre

by lumost 3y ago

On paper, Sam Altman would have made everyone on the board billionaires. For them to vote him out in this manner indicates that he must have done something egregious to jeopardize that. Lying on P&L, stock sale agreements, or turning down an acquisition offer under difficult circumstances seems likely.

iandanforth 3y ago
As noted in the release: "The majority of the board is independent, and the independent directors do not hold equity in OpenAI."
- nonfamous 3y ago
  In fact, I believe Altman was the only member of the board that held equity in OpenAI. There was some vague reference to a “previous VC arrangement” in the FAQ.
  - deleted 3y ago
    [deleted]
  - samspenc 3y ago
    Sam Altman had no equity in OpenAI https://www.cnbc.com/2023/03/24/openai-ceo-sam-altman-didnt-take-any-equity-in-the-company-semafor.html https://www.cnbc.com/2023/03/24/openai-ceo-sam-altman-didnt-... He confirmed it verbally as well in his May 2023 hearing in Congress https://twitter.com/thesamparr/status/1658554712151433219?lang=en https://twitter.com/thesamparr/status/1658554712151433219?la...
    - nonfamous 3y ago
      From https://openai.com/our-structure https://openai.com/our-structure : > Even OpenAI’s CEO, Sam Altman, does not hold equity directly. His only interest is indirectly through a Y Combinator investment fund that made a small investment in OpenAI before he was full-time. That word “directly” seems to be relevant here.
orra 3y ago
> On paper, Sam Altman would have made everyone on the board billionaires. I know OpenAI in recent years forgot it's a non profit with particular aims, but: > The majority of the board is independent, and the independent directors do not hold equity in OpenAI.
narrator 3y ago
Elon was very upset that somehow a non-profit that he donated $100 million to suddenly turned into a for profit. I would not be surprised if there was something not totally candid with regards to how that went down.
Siddharth_7 3y ago
Could it be the allegations by his sister?? https://twitter.com/phuckfilosophy/status/1635704398939832321 https://twitter.com/phuckfilosophy/status/163570439893983232...
- terminous 3y ago
  That was back in March, which is pretty much 100 years ago
  - tivert 3y ago
    It seems like it's been getting a bit more attention over the past month.
- fallingknife 3y ago
  Wouldn't take 8 months to hit, and I wouldn't be hearing about it from your comment if there was enough media attention to oust a CEO for PR.
  - yunwal 3y ago
    Things like this can take a very long time to blow up. Cosbys first accuser was in 1965
- zoklet-enjoyer 3y ago
  That's what I was thinking too. Maybe she's taking it further than Twitter.
- alvis 3y ago
  The thread seems to be got picked up only last month given the timestamps of majority of comments and reposts were made. If the board decided to make an investigation, it'd be the timing to fire Altman.
jb1991 3y ago
Please do not spout hyperbole on HN, and avoid spreading disinformation and engaging in uneducated speculation. You can visit Reddit if that is your style of participation.
- wholinator2 3y ago
  While i agree, I'm curious why you choose this comment specifically to call out. This is the fastest growing hn thread I've ever seen with over 300 comments and 1000 votes in the first hour. Almost every comment is debating some pure speculation or another. The content of the link, the context of the company and individual, and absolute lack of clarifying details while presenting very strong indications that such exists make it so that there's basically no way anyone can do anything other than speculate. No one knows anything, everyone here is guessing

by lumost 3y ago

iandanforth 3y ago

As noted in the release: "The majority of the board is independent, and the independent directors do not hold equity in OpenAI."

nonfamous 3y ago
In fact, I believe Altman was the only member of the board that held equity in OpenAI. There was some vague reference to a “previous VC arrangement” in the FAQ.
- deleted 3y ago
  [deleted]
- samspenc 3y ago
  Sam Altman had no equity in OpenAI https://www.cnbc.com/2023/03/24/openai-ceo-sam-altman-didnt-take-any-equity-in-the-company-semafor.html https://www.cnbc.com/2023/03/24/openai-ceo-sam-altman-didnt-... He confirmed it verbally as well in his May 2023 hearing in Congress https://twitter.com/thesamparr/status/1658554712151433219?lang=en https://twitter.com/thesamparr/status/1658554712151433219?la...
  - nonfamous 3y ago
    From https://openai.com/our-structure https://openai.com/our-structure : > Even OpenAI’s CEO, Sam Altman, does not hold equity directly. His only interest is indirectly through a Y Combinator investment fund that made a small investment in OpenAI before he was full-time. That word “directly” seems to be relevant here.

orra 3y ago

> On paper, Sam Altman would have made everyone on the board billionaires. I know OpenAI in recent years forgot it's a non profit with particular aims, but: > The majority of the board is independent, and the independent directors do not hold equity in OpenAI.

narrator 3y ago

Elon was very upset that somehow a non-profit that he donated $100 million to suddenly turned into a for profit. I would not be surprised if there was something not totally candid with regards to how that went down.

Siddharth_7 3y ago

Could it be the allegations by his sister?? https://twitter.com/phuckfilosophy/status/1635704398939832321 https://twitter.com/phuckfilosophy/status/163570439893983232...

terminous 3y ago
That was back in March, which is pretty much 100 years ago
- tivert 3y ago
  It seems like it's been getting a bit more attention over the past month.
fallingknife 3y ago
Wouldn't take 8 months to hit, and I wouldn't be hearing about it from your comment if there was enough media attention to oust a CEO for PR.
- yunwal 3y ago
  Things like this can take a very long time to blow up. Cosbys first accuser was in 1965
zoklet-enjoyer 3y ago
That's what I was thinking too. Maybe she's taking it further than Twitter.
alvis 3y ago
The thread seems to be got picked up only last month given the timestamps of majority of comments and reposts were made. If the board decided to make an investigation, it'd be the timing to fire Altman.

jb1991 3y ago

Please do not spout hyperbole on HN, and avoid spreading disinformation and engaging in uneducated speculation. You can visit Reddit if that is your style of participation.

wholinator2 3y ago
While i agree, I'm curious why you choose this comment specifically to call out. This is the fastest growing hn thread I've ever seen with over 300 comments and 1000 votes in the first hour. Almost every comment is debating some pure speculation or another. The content of the link, the context of the company and individual, and absolute lack of clarifying details while presenting very strong indications that such exists make it so that there's basically no way anyone can do anything other than speculate. No one knows anything, everyone here is guessing