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I thought Altman didn't own hardly any equity.
by JohnnyMarcone 11mo ago
I thought Altman didn't own hardly any equity.
- deleted 11mo ago[deleted]
- senordevnyc 11mo agoHe doesn't, which the Sam haters consistently just ignore or gloss over. Or my favorite, they pivot to complaining about how OpenAI is investing in companies he has a stake in, so that's how he's grifting everyone! Which makes no sense, because he could have pretty easily openly negotiated tens of billions in equity in OpenAI if he was after that, rather than try and do some kind of sleight of hand behind the scenes to maybe make 1% of that. Maybe.
- piva00 11mo agoWhat's in it for Altman then? It's money but how?
- CPLX 11mo agoAltman isn’t the only beneficiary, my analogy is just that, an analogy. The property of a charity is being pillaged for the benefit of private parties, like Microsoft, existing employees, and yes of course Altman himself via various means. You can “well actually” this all day, but at the beginning of the story there’s a charity with millions of dollars to do research and the promise to keep the resulting advancements in the public trust. At the end of the story there will be billions of dollars in the hands of private individuals and the IP the charity created in the hands of a ruthless for profit company.
- MagnumOpus 11mo agoBloomberg reported last year that Sam is angling for the board to give him 7% of the company, and the board was seriously discussing it. The optics weren’t right at the time, but you can rely on something being in planning. Sam doesn’t do anything for free, even though he is already a billionaire 2-3 times over.