No. of Recommendations: 1
https://garymarcus.substack.com/p/if-you-thought-t..."A few days ago, Sam Altman got seriously pissed off when Brad Gerstner had the temerity to ask how OpenAI was going to pay the $1.4 trillion in obligations he was taking on, given a mere $13 billion in revenue."
Altman's response:"First of all. We’re doing well more revenue than that. Second of all, Brad, if you want to sell your shares, I’ll find you a buyer."
Find him a buyer? Altman didn't offer to buy Gerstner shares.
Is Altman highly leveraged hoping AI will propel him past Musk & Bezos in wealth? Or is Altman utilizing OPM?
Just how fragile is Open AI finances?
https://futurism.com/artificial-intelligence/sam-a...OpenAI is planning to spend an exorbitant amount of money building out AI infrastructure, as it continues trying to achieve artificial general intelligence through sheer computational scale.
That’s despite its revenue lagging far behind its enormous spending spree, with recently released Microsoft earnings suggesting that the Sam Altman-led company lost a whopping $11.5 billion last quarter.
Even its blockbuster AI chatbot ChatGPT, which accounts for the majority of the company’s revenue, appears to be stalling out on new subscribers. OpenAI is struggling to convince more than a measly five percent of its 800 million active ChatGPT users to pay for a subscription.Altman was ousted as CEO for 5 days then reinstated.
https://www.theverge.com/ai-artificial-intelligenc...The board claimed Altman “was not consistently candid in his communications with the board,” undermining their confidence in him. He was out for less than a week before being reinstated after hundreds of employees threatened to resign. But observers wondered: What hadn’t Altman been candid about? And what led Sutskever to turn against him?Does not consistently candid=lying?
Now, new details have come to light in a legal deposition involving Sutskever, part of Musk’s ongoing lawsuit against Altman and OpenAI. For nearly 10 hours on October 1st, bookended by repeated sniping between Musk’s and Sutsever’s attorneys, Sutskever answered questions about the turmoil around Altman’s ouster, from conflicts between executives to short-lived merger talks with Anthropic. He testified that from personal experience and documentation he’d viewed, he’d seen Altman pit high-ranking executives against each other and offer conflicting information about his plans for the company, telling people what they wanted to hear.In any case Altman triumphed and got the board replaced.
https://en.wikipedia.org/wiki/Sam_AltmanAs of June 2024, Altman's investment portfolio includes stakes in over 400 companies, valued at around US$2.8 billion. Some of these investments intersect with companies doing business with OpenAI, which has raised questions about potential conflicts of interest. AI may become a force in the US economy. OpenAI wouldn't be my pick to bet on. But then at age 74, I no longer swing for the fences. My pick would be ETN that is involved in building data centers for AI.
https://www.marketwatch.com/story/eaton-takes-aim-...
