3 ms·

Possibility That an SEC Investigation of Altman and Nadella May Soon Be Filed

27 points by consumer451 3y ago

consumer451 3y ago
Full headline: Redditors from r/wallstreetbets Call Attention to Possibility that an SEC Investigation of OpenAI CEO Sam Altman and Microsoft CEO Satya Nadella May Soon be Filed WSB is one of the few things that has been missing from this species defining drama, so I am happy that this oversight has been rectified.
- blitzar 3y ago
  yolo
schiffern 3y ago
>The notorious subreddit r/wallstreetbets ... has picked up on a discussion from the computer programming & tech news forum Hacker News, wherein users of the latter website are speculating... And so it comes full circle. Hype-o-genesis is complete (see https://xkcd.com/978/ https://xkcd.com/978/). https://old.reddit.com/r/wallstreetbets/comments/181ts9a/will_microsoft_be_hit_with_an_sec_inquiry/ https://old.reddit.com/r/wallstreetbets/comments/181ts9a/wil... https://news.ycombinator.com/item?id=38387518#38387572 https://news.ycombinator.com/item?id=38387518#38387572
- consumer451 3y ago
  Previously discussed: Show HN: Recursive LLM Prompts https://news.ycombinator.com/item?id=35234276 https://news.ycombinator.com/item?id=35234276
kmlevitt 3y ago
So to be clear, There is no evidence that the SEC takes this seriously at all or is anywhere near conducting an investigation. That’s just what redditors hope will happen, but the reasoning doesn’t seem very strong. Given the value of Microsoft’s investment in open AI, and given the fact that the value of open AI lies in the employees capable of delivering the technology Microsoft gets from them, it is absolutely rational for Nadella to offer all of them jobs in the event they leave open AI for whatever reason, no “favor trading“ required. Benioff of salesforce and the CEO of Nvidia were also very publicly offering those same people jobs with no interview. Are they guilty of “favor trading“ too? Or can we just accept that everybody in Silicon Valley wants to hire Altman and his people? My guess is some people on WallStreetbets are just trying to short Microsoft stock, and they’re hoping if they talk this talk they’ll get the ball rolling on a drop in their share price.
- londons_explore 3y ago
  > Benioff of salesforce and the CEO of Nvidia were also very publicly offering those same people jobs with no interview. This fact alone will get any SEC actions thrown out (unless someone can show Nvidia, Salesforce and Microsoft were all in on it).
- consumer451 3y ago
  > My guess is some people on WallStreetbets are just trying to short Microsoft stock, and they’re hoping if they talk this talk they’ll get the ball rolling on a drop in their share price. This seems as likely as any other explanation. I posted the story not to further that cause, but because this all feels like a terrible joke and I am having a hard time taking the world seriously at this point.
Mistletoe 3y ago
Is this written by AI? I don’t see a journalist byline maybe I’m missing it?
leeeeeepw 3y ago
How could he possibly have known that these actions would create anthropic? CEOs do not know everything, of course competitors are gonna pop up...
scopecrestoutls 3y ago
One of my friends living in San Jose says she filed a complaint
alfredpawney 3y ago
In case this site does not work for you too, I have previously made an archive of it. Which is here. https://web.archive.org/web/20231123163915/https://michigan-post.com/redditors-from-r-wallstreetbets-call-attention-to-possibility-that-an-sec-investigation-of-openai-ceo-sam-altman-and-microsoft-ceo-satya-nadella-may-soon-be-filed/ https://web.archive.org/web/20231123163915/https://michigan-... I hope its helpful
alfredpawney 3y ago
Ironically this has now become a test case for the use of Bing Chat as an assistant for legal research. https://x.com/1hopecomingtrue/status/1727861061725069415/ https://x.com/1hopecomingtrue/status/1727861061725069415/

27 points by consumer451 3y ago

Full headline: Redditors from r/wallstreetbets Call Attention to Possibility that an SEC Investigation of OpenAI CEO Sam Altman and Microsoft CEO Satya Nadella May Soon be Filed WSB is one of the few things that has been missing from this species defining drama, so I am happy that this oversight has been rectified.

blitzar 3y ago
yolo

schiffern 3y ago

>The notorious subreddit r/wallstreetbets ... has picked up on a discussion from the computer programming & tech news forum Hacker News, wherein users of the latter website are speculating... And so it comes full circle. Hype-o-genesis is complete (see https://xkcd.com/978/ https://xkcd.com/978/). https://old.reddit.com/r/wallstreetbets/comments/181ts9a/will_microsoft_be_hit_with_an_sec_inquiry/ https://old.reddit.com/r/wallstreetbets/comments/181ts9a/wil... https://news.ycombinator.com/item?id=38387518#38387572 https://news.ycombinator.com/item?id=38387518#38387572

consumer451 3y ago
Previously discussed: Show HN: Recursive LLM Prompts https://news.ycombinator.com/item?id=35234276 https://news.ycombinator.com/item?id=35234276

kmlevitt 3y ago

So to be clear, There is no evidence that the SEC takes this seriously at all or is anywhere near conducting an investigation. That’s just what redditors hope will happen, but the reasoning doesn’t seem very strong. Given the value of Microsoft’s investment in open AI, and given the fact that the value of open AI lies in the employees capable of delivering the technology Microsoft gets from them, it is absolutely rational for Nadella to offer all of them jobs in the event they leave open AI for whatever reason, no “favor trading“ required. Benioff of salesforce and the CEO of Nvidia were also very publicly offering those same people jobs with no interview. Are they guilty of “favor trading“ too? Or can we just accept that everybody in Silicon Valley wants to hire Altman and his people? My guess is some people on WallStreetbets are just trying to short Microsoft stock, and they’re hoping if they talk this talk they’ll get the ball rolling on a drop in their share price.

londons_explore 3y ago
> Benioff of salesforce and the CEO of Nvidia were also very publicly offering those same people jobs with no interview. This fact alone will get any SEC actions thrown out (unless someone can show Nvidia, Salesforce and Microsoft were all in on it).
consumer451 3y ago
> My guess is some people on WallStreetbets are just trying to short Microsoft stock, and they’re hoping if they talk this talk they’ll get the ball rolling on a drop in their share price. This seems as likely as any other explanation. I posted the story not to further that cause, but because this all feels like a terrible joke and I am having a hard time taking the world seriously at this point.

Mistletoe 3y ago

Is this written by AI? I don’t see a journalist byline maybe I’m missing it?

leeeeeepw 3y ago

How could he possibly have known that these actions would create anthropic? CEOs do not know everything, of course competitors are gonna pop up...

scopecrestoutls 3y ago

One of my friends living in San Jose says she filed a complaint

alfredpawney 3y ago

In case this site does not work for you too, I have previously made an archive of it. Which is here. https://web.archive.org/web/20231123163915/https://michigan-post.com/redditors-from-r-wallstreetbets-call-attention-to-possibility-that-an-sec-investigation-of-openai-ceo-sam-altman-and-microsoft-ceo-satya-nadella-may-soon-be-filed/ https://web.archive.org/web/20231123163915/https://michigan-... I hope its helpful

alfredpawney 3y ago

Ironically this has now become a test case for the use of Bing Chat as an assistant for legal research. https://x.com/1hopecomingtrue/status/1727861061725069415/ https://x.com/1hopecomingtrue/status/1727861061725069415/