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Comment by henry_viii | Hacker News Reader

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henry_viii

- You make a lot of money, do you?

- I make, no, I paid enough for health insurance. I have no equity in OpenAI.

- Really? That's interesting.

https://www.youtube.com/watch?v=H7FsL6GPesY&t=19s

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Isn’t lying to congress criminal

Does anyone actually believe Altman has no financial incentive in his OpenAI work?

Bill Gates has been pledging to give away all his money for the last 20 years.. :-)

In 2008: "Bill Gates pledges to leave his £30billion fortune to charity... rather than his children" - https://www.dailymail.co.uk/news/article-1027878/Bill-Gates-...

In 2022: "Bill Gates pledges to donate ‘virtually all’ of $113bn fortune to his foundation" - https://www.theguardian.com/us-news/2022/jul/15/bill-gates-b...

In the meanwhile in 2023 is still the 6th richest. Giving money away is such a hard job :-))

It actually is, if you care about where it goes

And also if you care if it's sustainable.

With that much money you can just pay an entire team to find places to send it for you.

You pay a whole team of tax advisors, and lobbyists, so that no politician of enough weight in 20 years, says the magic word: "Billionaire Tax"

"Global billionaire tax could yield $250 billion annually, study says" - https://www.reuters.com/business/finance/global-billionaire-...

That's a great strategy if you don't care where it goes. You'd probably be surprised how quickly money can disappear when you have people motivated to spend it.

It has been a winning strategy for SoftBank. When there are gigantic sums of money sloshing around, the waste can become enormous.

He does, it's literally what the Gates Foundation is for. It isn't easy to just give away $100,000,000,000 and trust that even half of that will get meaningfully spend and that it won't actually wind up getting abused by assholes in powerful positions and making things worse. That's $14 million per day for twenty years.

He’s much better at giving it away when he thinks he is investing. Stuff like shorting Tesla. Hence, some traders have started to follow something called the Inverse Gates Index.

I think he said that he has equity in OpenAI but he also said that he is not motivated by money but by advancement of the AI and helping the humanity. If he was hardcore motivated by money he would spin off from the OpenAI and pull with him some of the developers and the investors and make his own LLM company.

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