4 ms·

Sam Altman just vowed to donate most of his wealth through giving pledge

18 points by keploy 2y ago

phs318u 2y ago
Breaking news! Compulsive liar attempts to repair public persona by making sweeping promise. 21st century carpet bagger.
- quantified 2y ago
  He could just not take the money in the first place, then he wouldn't be burdened with giving it away. The fact that he wants to get it in the first place belies his real intentions.
  - deleted 2y ago
    [deleted]
  - RRWagner 2y ago
    well said. If those who now have 100s of billions in personal wealth had just paid their employees more...
    - refurb 2y ago
      As far as I know early employees made out like bandits at Google, Microsoft, etc. Even the later employees did.
  - ProllyInfamous 2y ago
    >The fact that he wants to get it in the first place "I can spend it better," is how I've heard this said by a major donor. Unfortuneately, I don't think he's entirely incorrect =|
  - deleted 2y ago
    [deleted]
floppiplopp 2y ago
Sam Altman-Fried?
sriram_malhar 2y ago
Anand Giridharidas's book, "Winners Take All: The Elite Charade of Changing the World" is an excellent commentary on this state of affairs. He particularly takes on the act of massive charities (Gates, Buffet etc) because the acts by which a few individuals make a lot of money are precisely the ones that have screwed up society so bad. We should not look at philanthropists so kindly.
- JohnFen 2y ago
  Indeed. Doing something good tomorrow doesn't erase the bad you may have done yesterday.
- deleted 2y ago
  [deleted]
- Nasrudith 2y ago
  That sounds very "leftist" in circular-logic where more money means you are axiomatically automatically the most guilty regardless of level of harm caused. Which means that if you were to become the first trillionare by curing 95% of all forms of cancer then you are clearly history's greatest monster.
  - deleted 2y ago
    [deleted]
  - davidgerard 2y ago
    > That sounds very "leftist" in circular-logic what the
Refusing23 2y ago
i dont think people care where his money ends up when he dies people probably care more about how he gets that money, and what he spends his life doing
croes 2y ago
Sounds like Altman's version of P.Diddy's "I'm sorry"
throwaway456456 2y ago
Whatever man... > So, the Series B Investors are giving 10% of our shares in this round to the people in the reddit community, and I hope we increase community ownership over time. [1] [1] https://blog.samaltman.com/reddit https://blog.samaltman.com/reddit
- zoky 2y ago
  What, you didn't click the link to convert useless Internet points into shares?
maxehmookau 2y ago
Can we stop allowing the richest billionaires in societies decide who is and isn't deserving of philanthropic funds? Fair taxation and properly funded services paid for by directly elected governments, please.
- Nasrudith 2y ago
  Alright then so when do we go from it being tax deductible to outright banning private charity as "undemocratic"?
  - maxehmookau 2y ago
    There's a huge difference between you or I donating a portion of our earnings to charity and reaping the tax benefits or a billionaire donating >50% of their wealth to causes that they decide and the outsized impact that can have. The difference in the number of zeroes at the end of those figures is enormous and not comparable.
belter 2y ago
The Giving Pledge exist for one reason and one reason only. To avoid the discussion of an immediate and real billionaire tax. It's just a tax optimization strategy. Why don't we all defer our taxes with a pledge a 99% tax donation to the IRS...after our deaths? https://www.inc.com/geoffrey-james/bill-gates-promised-to-give-away-his-wealth-well-that-was-bs.html https://www.inc.com/geoffrey-james/bill-gates-promised-to-gi... "Bill Gates Promised to Give Away His Wealth. Well, That Was BS": "When he made the pledge in 2010, his net worth was $53 billion. Ten years later, his net worth is $115 billion. Bill Gates is 64 years old, so at this rate, he'll be worth $250 billion or more by the time he's supposed to have given away at least half his wealth. Same thing with Warren Buffett, only much worse. In 2010, his net worth was $39 billion; today, his net worth is $82 billion. Buffett is 90 years old, so if he's planning on giving away at least half his wealth, he'd damn better well get crackin'!"
kaleidobug 2y ago
Sam Altman and Amber Heard making pledges. Only major difference is in the size of the lie in terms of money /s :)
rchaud 2y ago
> "While there is no enforcement in place to ensure pledge members follow through on their promise, the Giving Pledge educates them on ways they can make their donation, which is seen as “public, moral commitment." How hard is it for the ultra-rich to simply cut a check every year to a charitable organization they didn't invent as a tax vehicle, at a time of incredible suffering globally through conflict or natural disasters? Medecins Sans Frontieres, World Vision, the Red Cross --- all these orgs engaged in active disaster responses are almost entirely funded by regular people like you and me making a charitable donation. Why do the rich need this dog and pony show? Regular Americans on regular salaries manage to scrounge up a few bucks each year to give to food banks, or help provide kids with school supplies, or other forms of mutual aid . They don't have articles written about them.
- abenga 2y ago
  > Why do the rich need this dog and pony show? Because alleviating suffering is not the goal. Reputation laundering, giving friends and family cushy sinecures, optimizing tax liability, and placating the masses and governments are the goals.
  - rchaud 2y ago
    Maybe I'm overly nostalgic, but the reputation laundering in years past didn't seem to preclude significant financial gifts to things the general public benefited from, such as scholarships, public parks and libraries. Bill Gates for his part has done a lot to prevent the spread of infectious disease for the most vulnerable around the world. Something definitely seems to have changed since those days. Warren Buffett is one of the top 5 most influential men on earth and does nothing besides spout folksy platitudes about how "it's not right" that his secretary pays a bigger percentage of her income on tax than he does. Even Jeff Bezos' divorce was a blessing in some ways as his ex-wife committed billions to charities that Bezos himself would not. The less said about Musk taunting the United Nations Food Programme's ask for $6bn, the better.
Havoc 2y ago
A real charity or American style tax shelter “my own charity”?
jasonvorhe 2y ago
pledges =! "Actually had over money somewhere"
leoh 2y ago
Did anyone briefly accidentally misread Sam Altman as SBF?
- tanseydavid 2y ago
  I make this mistake repeatedly and did so in this case too. My mind went to envisioning SBF passing out little envelopes with IOUs in them to his fellow prisoners.
zoky 2y ago
Yeah, ok, give me a call when that wealth has actually been put to good use, not when Sam “Not Even Sorry For Sexually Abusing My Sister” Altman claims it might possibly be in the future.
deleted 2y ago
[deleted]

18 points by keploy 2y ago

Breaking news! Compulsive liar attempts to repair public persona by making sweeping promise. 21st century carpet bagger.

quantified 2y ago
He could just not take the money in the first place, then he wouldn't be burdened with giving it away. The fact that he wants to get it in the first place belies his real intentions.
- deleted 2y ago
  [deleted]
- RRWagner 2y ago
  well said. If those who now have 100s of billions in personal wealth had just paid their employees more...
  - refurb 2y ago
    As far as I know early employees made out like bandits at Google, Microsoft, etc. Even the later employees did.
- ProllyInfamous 2y ago
  >The fact that he wants to get it in the first place "I can spend it better," is how I've heard this said by a major donor. Unfortuneately, I don't think he's entirely incorrect =|
- deleted 2y ago
  [deleted]

floppiplopp 2y ago

Sam Altman-Fried?

sriram_malhar 2y ago

Anand Giridharidas's book, "Winners Take All: The Elite Charade of Changing the World" is an excellent commentary on this state of affairs. He particularly takes on the act of massive charities (Gates, Buffet etc) because the acts by which a few individuals make a lot of money are precisely the ones that have screwed up society so bad. We should not look at philanthropists so kindly.

JohnFen 2y ago
Indeed. Doing something good tomorrow doesn't erase the bad you may have done yesterday.
deleted 2y ago
[deleted]
Nasrudith 2y ago
That sounds very "leftist" in circular-logic where more money means you are axiomatically automatically the most guilty regardless of level of harm caused. Which means that if you were to become the first trillionare by curing 95% of all forms of cancer then you are clearly history's greatest monster.
- deleted 2y ago
  [deleted]
- davidgerard 2y ago
  > That sounds very "leftist" in circular-logic what the

Refusing23 2y ago

i dont think people care where his money ends up when he dies people probably care more about how he gets that money, and what he spends his life doing

croes 2y ago

Sounds like Altman's version of P.Diddy's "I'm sorry"

throwaway456456 2y ago

Whatever man... > So, the Series B Investors are giving 10% of our shares in this round to the people in the reddit community, and I hope we increase community ownership over time. [1] [1] https://blog.samaltman.com/reddit https://blog.samaltman.com/reddit

zoky 2y ago
What, you didn't click the link to convert useless Internet points into shares?

maxehmookau 2y ago

Can we stop allowing the richest billionaires in societies decide who is and isn't deserving of philanthropic funds? Fair taxation and properly funded services paid for by directly elected governments, please.

Nasrudith 2y ago
Alright then so when do we go from it being tax deductible to outright banning private charity as "undemocratic"?
- maxehmookau 2y ago
  There's a huge difference between you or I donating a portion of our earnings to charity and reaping the tax benefits or a billionaire donating >50% of their wealth to causes that they decide and the outsized impact that can have. The difference in the number of zeroes at the end of those figures is enormous and not comparable.

belter 2y ago

The Giving Pledge exist for one reason and one reason only. To avoid the discussion of an immediate and real billionaire tax. It's just a tax optimization strategy. Why don't we all defer our taxes with a pledge a 99% tax donation to the IRS...after our deaths? https://www.inc.com/geoffrey-james/bill-gates-promised-to-give-away-his-wealth-well-that-was-bs.html https://www.inc.com/geoffrey-james/bill-gates-promised-to-gi... "Bill Gates Promised to Give Away His Wealth. Well, That Was BS": "When he made the pledge in 2010, his net worth was $53 billion. Ten years later, his net worth is $115 billion. Bill Gates is 64 years old, so at this rate, he'll be worth $250 billion or more by the time he's supposed to have given away at least half his wealth. Same thing with Warren Buffett, only much worse. In 2010, his net worth was $39 billion; today, his net worth is $82 billion. Buffett is 90 years old, so if he's planning on giving away at least half his wealth, he'd damn better well get crackin'!"

kaleidobug 2y ago

Sam Altman and Amber Heard making pledges. Only major difference is in the size of the lie in terms of money /s :)

rchaud 2y ago

> "While there is no enforcement in place to ensure pledge members follow through on their promise, the Giving Pledge educates them on ways they can make their donation, which is seen as “public, moral commitment." How hard is it for the ultra-rich to simply cut a check every year to a charitable organization they didn't invent as a tax vehicle, at a time of incredible suffering globally through conflict or natural disasters? Medecins Sans Frontieres, World Vision, the Red Cross --- all these orgs engaged in active disaster responses are almost entirely funded by regular people like you and me making a charitable donation. Why do the rich need this dog and pony show? Regular Americans on regular salaries manage to scrounge up a few bucks each year to give to food banks, or help provide kids with school supplies, or other forms of mutual aid . They don't have articles written about them.

abenga 2y ago
> Why do the rich need this dog and pony show? Because alleviating suffering is not the goal. Reputation laundering, giving friends and family cushy sinecures, optimizing tax liability, and placating the masses and governments are the goals.
- rchaud 2y ago
  Maybe I'm overly nostalgic, but the reputation laundering in years past didn't seem to preclude significant financial gifts to things the general public benefited from, such as scholarships, public parks and libraries. Bill Gates for his part has done a lot to prevent the spread of infectious disease for the most vulnerable around the world. Something definitely seems to have changed since those days. Warren Buffett is one of the top 5 most influential men on earth and does nothing besides spout folksy platitudes about how "it's not right" that his secretary pays a bigger percentage of her income on tax than he does. Even Jeff Bezos' divorce was a blessing in some ways as his ex-wife committed billions to charities that Bezos himself would not. The less said about Musk taunting the United Nations Food Programme's ask for $6bn, the better.

Havoc 2y ago

A real charity or American style tax shelter “my own charity”?

jasonvorhe 2y ago

pledges =! "Actually had over money somewhere"

leoh 2y ago

Did anyone briefly accidentally misread Sam Altman as SBF?

tanseydavid 2y ago
I make this mistake repeatedly and did so in this case too. My mind went to envisioning SBF passing out little envelopes with IOUs in them to his fellow prisoners.

zoky 2y ago

Yeah, ok, give me a call when that wealth has actually been put to good use, not when Sam “Not Even Sorry For Sexually Abusing My Sister” Altman claims it might possibly be in the future.

deleted 2y ago

[deleted]