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Altman: OpenAI not for sale, especially to competitor who is not able to beat us
- d--b 2y agoIs there any chance that the board considers it at all? I mean its mission is to maximize the interests of shareholders, and right now, it's unclear that OpenAI will maintain its dominating position over competitors in the long run. EDIT: forgot to mention I am not a Trump/Musk guy in any way. Just talking about the deal here.
- shubb 2y agoIs that true for the current board arrangement? I thought they were set up a some kind of non profit and thier mandate was to pursue other goals not profit. That was what caused the issue with the altman firing previously right?
- philjohn 2y agoEven the way they want to go public, as a Public Benefit Corporation, calls into question whether the board then would allow Musk to take a controlling stake.
- deleted 2y ago[deleted]
- mattmaroon 2y agoThat is not the mission (it is a non-profit) and does not have to be after they transition either.
- d--b 2y agoah right
- kweingar 2y agoThe transition involves a sale of the non-profit's assets. This is what Elon has offered to buy. They can refuse Elon's offer, but they can't turn around and sell the assets 50% cheaper to someone else (as they had previously planned).
- mattmaroon 2y agoSure they can. They're a non-profit, they don't have a fiduciary duty. It may cause some ramifications for the taxes and accounting but they absolutely can since they don't have shareholders.
- andrewstuart 2y agoThe big scandal between tech chiefs back in my day was when Bill Gates and Phillipe Kahn yelled at each other at a conference.
- hbbio 2y agoToo bad the evil one won
- andrewstuart 2y ago"The evil one" So, the guy who dedicates his life and money to helping people less fortunate, to pursuing goals of global health and education for women and children in third world economies. Have you noticed the behavior of other tech billionaires being discussed in this post? And Gates is "the evil one"?
- newsclues 2y agoRemember when Bill Gates rehabilitated his image after he was the hated richest guy like Elon is now?
- andrewstuart 2y agoFalse equivalence of the highest order.
- bdangubic 2y agoBill Gates rehabilitated his image not sure in what world Gates is still not hated rich guy? :)
- mattmaroon 2y agoHe wasn’t hated by anyone but competitors (who aren’t supposed to like you) and programmers, which is a good chunk of the HN crowd but like 1%+ of the general population.
- 2y ago
- finnjohnsen2 2y agoAs much as Musk has been unhinged lately I feel he is the good guy if it is really true he is trying to restore the "open" in OpenAI
- amelius 2y agoWhat are his options, really?
- seydor 2y agoThe worst things can come from good intentions. Competition is better
- goosedragons 2y agoI don't think he's doing it for altruistic reasons. And he bought Twitter for to "restore free speech". Not exactly what's happened there. He's not even remotely trust worthy in the slightest.
- guax 2y agoSame way he fights for freedom of speech. Btw, I have a bridge to sell, interested?
- ben_w 2y agoEven when accepting your preferred outcome, why should that influence you in this case? Musk's already got grok, if he wants to promote his own vision of open-ness. And DeepSeek published enough that others can get to near-SOTA models for far less than OpenAI spent.
- sincerecook 2y agoIf you think Elon is a "good guy" at this point, he's got a bunch of self driving cars to sell you. Full self driving should be ready by next year.
- seydor 2y ago> Probably his whole life is from a position of insecurity, i feel for the guy. I dont think he s a happy person i do feel for him. - Altman on bloomberg The shitposting upgraded to level 3
- ahartmetz 2y ago>i feel for the guy Altman, the sensitive, caring person, using his own caring personality to mount a mean put-down. Give me a fucking break. At least Musk isn't a sneaky weasel kind of asshole.
- atoav 2y agoI have to admit that my initial gut reaction to Musk is also one of pity. And I don't mean that as a cynical rethorical device, if I had his (blatantly obvious) insecurities I would feel bad. Would only be nice if his insecurity were dealt with in a way that didn't affect the rest of the world.
- alex_suzuki 2y agoTrue. He‘s more of an in your face one.
- seydor 2y agoand this is why he s still popular despite his antics
- scarfaceneo 2y agoAh yeah, he’s very popular… with the “pick me” crowd
- antupis 2y agoMusk isn't a sneaky weasel kind of asshole. Still, he is doing exactly sneaky weasel kind of shit here.
- ALLTaken 2y agoI have some inside information about Sam Altman's company. I don't have funds to pay to a lawyer, but I have video evidence of his firm stealing protected, sensitive and private data. What can I do with that? Can someone help? I previously had huge respect for Sam Altman, he's a genius I thought and he is indeed very smart. But now I just think he may have delusion of grandeur. He has been asking for trillions [1], then getting $500B Tax Payer money for closed source software [2]. It's not that the ends doesn't justify the mean, but it's never an amount that would be needed to begin with. Is it corruption? - [1] https://www.wsj.com/tech/ai/sam-altman-seeks-trillions-of-dollars-to-reshape-business-of-chips-and-ai-89ab3db0 https://www.wsj.com/tech/ai/sam-altman-seeks-trillions-of-do... - [2] https://venturebeat.com/ai/openai-stargate-is-a-500b-bet-americas-ai-manhattan-project-or-costly-dead-end/ https://venturebeat.com/ai/openai-stargate-is-a-500b-bet-ame...
- mattmaroon 2y agoIf this is real, which I doubt, you could post it on YouTube, give it to a journalist whose critical coverage of then you like, send it to Musk, etc. If it’s not real, as I suspect, I’d go ahead and delete this comment and forget about whatever game you’re playing. They do have money for lawyers.
- ALLTaken 2y agoI know it's the internet, but I promise it's real. I've no financial interests. But me and my friend's IP was violated and I know many other's too. How they did it, that's quite obvious, but I'm afraid to say anything direct without knowing what to do with this. I could upload this to multiple sites, but would get sued + DMCA take downs unironically. Hope you understand the power-law distribution is quite unfair. I've done multiple videos, just in case and my friend too. I'm definitely none that defends IP rights or patents and believe in freedom of data, but then again, they should give up their IP too. Just fair, especially given the size of their company and the data they steal, day by day..
- mattmaroon 2y ago
- DrScientist 2y agoIsn't Musks offer just mischievous - making an offer at a lower valuation than OpenAI recently raised funds at, and I suspect substantially lower than any further attempts to raise even more capital. Sam Altman appears to be trying to rush to use the current hype to create a large capital moat, and Musks low ball/realistic ( take your pick ) offer is trying to interfere with the raising of cash - putting doubt about the hyped valuations in investors minds.
- ForHackernews 2y agoFeels like DeepSeek already did that far more effectively. What has xAI produced?
- codr7 2y agoCurrent AI valuations are delusional, which sort of makes sense since so is the technology and everyone hyping it to hell and back.
- DrScientist 2y ago
- smgit 2y agoWhats educational here is to look into how Howard Hughes unraveled. Its not just a story about Howard Hughes, but how all the people around him who were mesmerized by him just went along for the ride. The only difference is Howard Hughes was an introvert. While Elon is an extrovert and in lives in the age of social media where likes/follower count amplify self delusion of the entire herd.
- holografix 2y agoElon is not extroverted, he’s abusing ketamine and it’s upended his whole personality.
- Timber-6539 2y agoMusk's offer to buy OpenAI has put Sam in a corner. Given that Softbank recently made a similar offer of $40B, it would be idiotic of OpenAI's board to pass on Elon's offer which is more than double what Softbank offered.
- rat9988 2y agoThey offered 40B investment at 260B valuation.
- Timber-6539 2y agoThat valuation is a speculative figure unlike Musk's offer to buy cash.
- rat9988 2y agoYes, but at this point wether there is still a meaning in your original comment is speculative too.
- Timber-6539 2y agoMay not be entirely accurate but it's still relevant context.
- throw0101d 2y ago> That valuation is a speculative figure unlike Musk's offer to buy cash. Like his initial offer to buy Twitter… which he tried to go back on and was forced to follow through on via court?
- Timber-6539 2y agoHow sure are you that wasn't his plan all along? And isn't the same plan here?
- 2y ago
- mherrmann 2y agoCould this be an attempt to prevent Altman from turning OpenAI into a for-profit too cheaply? If I understand correctly, then turning a non-profit into a for-profit requires selling the non-profit's assets at a fair price. If Altman says he buys it for 40bn and there is no other offer, then who's to say that this is not a fair price. On the other hand, with a 90bn offer on the table, it will be hard to argue that the assets are only worth 40.
- mohsen1 2y agoElon Musk’s bid for OpenAI isn’t about buying it but about disrupting its transition to a for-profit company. OpenAI Inc., the nonprofit, controls OpenAI LP, the capped-profit subsidiary. To convert to a full for-profit entity, OpenAI Inc. must sell its technology and IP to the new company, with regulators determining a fair valuation. The rumored SoftBank investment at a $260B valuation relies on this transition, but the current estimated valuation is around $150B. Typically, control premiums in such deals range from 20-30%, putting the expected nonprofit payout at $30B-$40B. However, Musk’s $97B bid for OpenAI Inc.’s assets sets a significantly higher valuation, giving regulators a strong argument that the nonprofit should receive much more. If regulators adopt Musk’s benchmark, OpenAI Inc. would end up with a 62% majority stake, making the transition far more complex or even blocking it entirely. Even though OpenAI won’t accept Musk’s offer, the bid’s primary effect is to make the legal and financial process of going for-profit much more difficult. It’s a strategic move designed to frustrate OpenAI’s leadership, particularly Sam Altman, and potentially derail the entire transition.
- neonate 2y agohttps://archive.md/ClcaR https://archive.md/ClcaR
- ChrisArchitect 2y ago[dupe] Discussion: https://news.ycombinator.com/item?id=43004889 https://news.ycombinator.com/item?id=43004889
- kweingar 2y agoWhen Altman says "OpenAI is not for sale", is there any sense in which that is not a lie? As part of the for-profit transition he is selling all of the non-profit's assets. Musk's group has offered to buy them, and Altman has declined, but he is still planning on selling them, no?