Sam Altman was raising a VC fund when OpenAI fired him | Hacker News Reader

Sam Altman was raising a VC fund when OpenAI fired him

semafor.com

61 pointsmfiguiere15 comments

https://web.archive.org/web/20231118004057/https://www.semaf...

This article presents no source for this claim, and the rest of the article is re-hashing stuff that has been well covered

This is clickbait - publications should report on facts and confirmed sources, not speculate and try to get clicks.

"according to a person familiar with the matter" is a source.

No it isn't. It's a plea from a journalist to trust that they actually have one and have the judgement to vet if the source is any good.

It's no more credible than the reporter, and I've never heard of this one.

Could the OC be sarcasm? Perhaps they forgot the /s?

Being riddled with ads also doesn't increase my trust level. This really seems like their attempt to capitalize on the crazy level of interest right now.

I mean even the first sentence of the article is factually incorrect. He did not "step down".

lol, if you were using brave browser you will see no ads

Brave Browser is privacy cope: https://digdeeper.neocities.org/articles/browsers#brave

And even if you don't use BAT, it is still an ad-driven business.

I didn't actually see the ads (I use uMatrix), but they have boxes outlining where the ads would normally go.

> Altman, unusually, didn’t have equity in OpenAI

> Altman was part of the original group of tech leaders that invested $1 billion to launch OpenAI in 2015

Err, does he have equity or does he not?

It was founded as a non-profit. So that $1B was not in exchange for equity. They changed to a capped profit model in 2019. As part of this, Open AI Global LLC was created. This for profit (capped at 100x initial investment) is controlled by the original OpenAI LLC. Employees were granted something like profit participation/equity in Open AI Global LLC, and new investments went into this entity under similar terms. Altman has repeatedly claimed no equity, so, taking him at his word, he did not participate in whatever the profit participation/equity arrangement that was made for employees and new investors.

Not. He put up money for the non-profit that was basically a donation.

First rule of startups. Never lie to your board. Second rule, never lie to your CEO.

Plenty of people invest on the side, founders or not. It's not uncommon.

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