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Ilya torched peoples' retirements by signaling that it would be very hard to cash out in OpenAI as it is now. You don't have to be emotional to understand the

Ilya torched peoples' retirements by signaling that it would be very hard to cash out in OpenAI as it is now. You don't have to be emotional to understand the consequence of that action, just logical. You have to think beyond your own narrow perspective for a minute.

rrr_oh_man 3y ago
Where did he do that? Genuine question.
- gemstones 3y ago
  The board vote did it! They had a tender offer in the works that would have made employees millionaires. The board clearly signaled that they viewed the money-making aspects of the company as something to dial back, which in turn either severely lessens the value of that tender offer or prevents it from happening. I mean, he didn't have a button on his desk that said, "torch the shares", but he ousted the CEO as a way to cut back on the things that might have meant profit. Did he think that everyone was going to continue to want to give them money after they signal a move away from profit motives? Doesn't take a rocket scientist to think that one through. I think he was just preoccupied with AI safety, and didn't give a thought to the knock on effects for investors of any stripe. He's clearly smart enough to, he just didn't care enough to factor it into his plans.
  - aleph_minus_one 3y ago
    I do believe OpenAI clearly signalled from the very beginning what the (complicated) company structure is about and what risks this means for any potential investor (or employee hoping to become rich). If you project your personal hopes which are different from this into the hype, this is your personal problem.
    - gemstones 3y ago
      Well, with the hollowing out of OpenAI, it seems that someone else will easily take the lead! They're not my personal hopes - this move destroyed OpenAI's best chance at retaining control over cutting edge AI as well. They destroyed their own hopes.
SoftTalker 3y ago
Torched retirements? Who is dumb enough to have his retirement portfolio that weighted to one company?
- samspenc 3y ago
  The OpenAI employees who are planning to resign en-masse for exactly this reason.
  - CamperBob2 3y ago
    They'll squeak by.

rrr_oh_man 3y ago

Where did he do that? Genuine question.

gemstones 3y ago
The board vote did it! They had a tender offer in the works that would have made employees millionaires. The board clearly signaled that they viewed the money-making aspects of the company as something to dial back, which in turn either severely lessens the value of that tender offer or prevents it from happening. I mean, he didn't have a button on his desk that said, "torch the shares", but he ousted the CEO as a way to cut back on the things that might have meant profit. Did he think that everyone was going to continue to want to give them money after they signal a move away from profit motives? Doesn't take a rocket scientist to think that one through. I think he was just preoccupied with AI safety, and didn't give a thought to the knock on effects for investors of any stripe. He's clearly smart enough to, he just didn't care enough to factor it into his plans.
- aleph_minus_one 3y ago
  I do believe OpenAI clearly signalled from the very beginning what the (complicated) company structure is about and what risks this means for any potential investor (or employee hoping to become rich). If you project your personal hopes which are different from this into the hype, this is your personal problem.
  - gemstones 3y ago
    Well, with the hollowing out of OpenAI, it seems that someone else will easily take the lead! They're not my personal hopes - this move destroyed OpenAI's best chance at retaining control over cutting edge AI as well. They destroyed their own hopes.

SoftTalker 3y ago

Torched retirements? Who is dumb enough to have his retirement portfolio that weighted to one company?

samspenc 3y ago
The OpenAI employees who are planning to resign en-masse for exactly this reason.
- CamperBob2 3y ago
  They'll squeak by.