4 ms·

I don't know anything, but isn't Sam already rich? And, if OpenAI is in a position to capture profits in an expanding AI industry, isn't this the best possible

I don't know anything, but isn't Sam already rich? And, if OpenAI is in a position to capture profits in an expanding AI industry, isn't this the best possible time to lock-in equity for long term gains and trillionaireship? For many people, sadly, one can never be rich enough. My point is, planning for both short term exit, and long term gains, is essentially the same in this particular situation. What a boon! Nice problem to have!

mirekrusin 2y ago
For some people the question "how much?" has only one answer – "more."
- michaelcampbell 2y ago
  And this seems to be mostly positive feedback.
gizmo 2y ago
Sam was already a billionaire years ago. He is one of SV most prolific investors, with equity in hundreds of startups. He writes big checks as well from time to time, Helion for instance he gave 375 million.
- GolfPopper 2y ago
  To be clear, Altman invested $375 million in Helion Energy's 2021 funding round. Helion Energy a for-profit fusion energy company of which he is the chairman.
  - baking 2y ago
    He is the Executive Chairman at Helion, which means he keeps a tight grip on that particular purse string.
- danga 2y ago
  He also got weird facial plastic surgery and looks like a wanted mobster now.
- VirusNewbie 2y ago
  How? He did not have a large exit to give him a bankroll to invest. Unless you mean from whatever YC shares he received as President, which seems unlikely. Even if he was paid ~25 million in equity per year, did YC shares increase 10x in that time?
  - disiplus 2y ago
    Didn't he own like 10% of Reddit. Here what pg had to say about the guy. --- Sam Altman has it. You could parachute him into an island full of cannibals and come back in 5 years and he'd be the king. If you're Sam Altman, you don't have to be profitable to convey to investors that you'll succeed with or without them. (He wasn't, and he did.) Not everyone has Sam's deal-making ability. I myself don't. But if you don't, you can let the numbers speak for you. --- https://paulgraham.com/fundraising.html https://paulgraham.com/fundraising.html
    - nerdix 2y ago
      One of those quotes where I can't tell if it's a compliment or not. I hear "He will find a way to not only survive but to thrive in difficult situations" But I also hear "He will eat people to get ahead".
- andrewinardeer 2y ago
  My understanding is Altman joined the Three Comma Club only this year not years ago. Yes, he has made lots of investments over the years as head of YC but not every investment was successful. This was discussed on BBC's podcast 'Good Billionaire Bad Billionaire' recently.
baking 2y ago
He is tied for last place on the most recent Forbes Billionaire list. https://www.forbes.com/profile/sam-altman/ https://www.forbes.com/profile/sam-altman/

mirekrusin 2y ago

For some people the question "how much?" has only one answer – "more."

michaelcampbell 2y ago
And this seems to be mostly positive feedback.

gizmo 2y ago

Sam was already a billionaire years ago. He is one of SV most prolific investors, with equity in hundreds of startups. He writes big checks as well from time to time, Helion for instance he gave 375 million.

GolfPopper 2y ago
To be clear, Altman invested $375 million in Helion Energy's 2021 funding round. Helion Energy a for-profit fusion energy company of which he is the chairman.
- baking 2y ago
  He is the Executive Chairman at Helion, which means he keeps a tight grip on that particular purse string.
danga 2y ago
He also got weird facial plastic surgery and looks like a wanted mobster now.
VirusNewbie 2y ago
How? He did not have a large exit to give him a bankroll to invest. Unless you mean from whatever YC shares he received as President, which seems unlikely. Even if he was paid ~25 million in equity per year, did YC shares increase 10x in that time?
- disiplus 2y ago
  Didn't he own like 10% of Reddit. Here what pg had to say about the guy. --- Sam Altman has it. You could parachute him into an island full of cannibals and come back in 5 years and he'd be the king. If you're Sam Altman, you don't have to be profitable to convey to investors that you'll succeed with or without them. (He wasn't, and he did.) Not everyone has Sam's deal-making ability. I myself don't. But if you don't, you can let the numbers speak for you. --- https://paulgraham.com/fundraising.html https://paulgraham.com/fundraising.html
  - nerdix 2y ago
    One of those quotes where I can't tell if it's a compliment or not. I hear "He will find a way to not only survive but to thrive in difficult situations" But I also hear "He will eat people to get ahead".
andrewinardeer 2y ago
My understanding is Altman joined the Three Comma Club only this year not years ago. Yes, he has made lots of investments over the years as head of YC but not every investment was successful. This was discussed on BBC's podcast 'Good Billionaire Bad Billionaire' recently.

baking 2y ago

He is tied for last place on the most recent Forbes Billionaire list. https://www.forbes.com/profile/sam-altman/ https://www.forbes.com/profile/sam-altman/