Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

wired.com

Post reply on HN
Print view View original

161–170 of 248 posts

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#161

Post by lopatin »

belter wrote: post #48
jaggederest wrote: post #41

I'm as skeptical of OpenAI's dealings as anyone, but a $1m investment in a chip startup doesn't sound like he's a material owner. They've raised $33 million so far, minus the whole Prosperity7 divestiture kerfluffle (national security made a saudi-backed fund sell), so I'd be surprised if he owned in excess of 5%. It looks to me like exactly the kind of investment I would expect a wealthy angel to make in startups re…

Again the argument: "I am so rich I would not possibly be dishonest for such a small amounts..." ?

If someone could explain the dishonest part to a simpleton like me it would be sincerely appreciated.

So he has an incentive to do business with a chip maker that he invested in. But that's allowed right? Or is the argument more that it's like insider trading (investing?) because he knew he might announce business with it in the future? Since it's not publicly traded, I don't even know if that's unethical.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#162

Post by cma »

pavlov wrote: post #36
0xbadc0de5 wrote: post #14

Google has their own chips. Amazon do... Meta as well... Vertical integration is a competitive advantage worth pursuing for OpenAI. The spin is just that - spin.

The difference is that Meta's chips are not developed by a separate company that just happens to be owned by Zuckerberg and charges Meta a ton of money for the R&D work. That would leave Meta's other shareholders paying the bill while missing out on the gains if the project becomes a success. In other words, the risk is shared but the potential rewards are reaped by just one shareholder.

Elon is richer and used NASA money at SpaceX to buy bad SolarCity bonds, then used Tesla to bail out SpaceX and SolarCity when SolarCity were going to default on them.

But, Zuckerberg has done some stuff maybe somewhat similar to the WeWork trademark thing: the "Meta" trademark came from his quasi-charity's investment into some kind of meta-study medical research company. I'm not sure there was any conflict there though as I think Chan-Zuckerberg initiative fully owned it and didn't have other shareholders.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#163

Post by Angostura »

dzink wrote: post #149

A nonbinding letter of intent in 2018? That is a limited downside unlimited upside kind of risk you take to fund extreme moon shots. Boom Supersonic did the same approach with United airlines, to fund a still undeveloped supersonic Airplane. A 1M investment like this is a hedge that has capped downside, restricted to Altman's personal money, and an infinite upside that gives an incentive to the founders to succeed. A…

Yes - the 2018 date was buried, rather disingenuously, I think.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#164

Post by mrangle »

nabla9 wrote: post #53

This kind of stuff is the reason why Altman was fired. The board lost trust for his honesty from many small things that kept accumulating. Altman is back on condition that there is a investigation.

>This kind of stuff is the reason why Altman was fired.

Doubt it. This type of thing is very common.

>Altman is back on condition that there is a investigation.

Altman is back because OAI had no choice.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#165

Post by mrkramer »

artursapek wrote: post #15
henry_viii wrote: post #7

- 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

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

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.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#166

Post by infecto »

dzink wrote: post #149

A nonbinding letter of intent in 2018? That is a limited downside unlimited upside kind of risk you take to fund extreme moon shots. Boom Supersonic did the same approach with United airlines, to fund a still undeveloped supersonic Airplane. A 1M investment like this is a hedge that has capped downside, restricted to Altman's personal money, and an infinite upside that gives an incentive to the founders to succeed. A…

Hope this makes it to the top. So much artificial outrage.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#167

Post by mrangle »

belter wrote: post #48
jaggederest wrote: post #41

I'm as skeptical of OpenAI's dealings as anyone, but a $1m investment in a chip startup doesn't sound like he's a material owner. They've raised $33 million so far, minus the whole Prosperity7 divestiture kerfluffle (national security made a saudi-backed fund sell), so I'd be surprised if he owned in excess of 5%. It looks to me like exactly the kind of investment I would expect a wealthy angel to make in startups re…

Again the argument: "I am so rich I would not possibly be dishonest for such a small amounts..." ?

You falsely assume that dishonesty has been established.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#169

Post by tsimionescu »

Der_Einzige wrote: post #122
tsimionescu wrote: post #54

Earlier quoted context omitted.

He has been accused on Twitter of "climbing in her bed non-consensually" when he was 13 (and she 4). She has also explicitly said she doesn't actually want legal action for "experiences between a baby child and a tween child", again suggesting that anything that happened only happened when he was a child. She also has a history of mental illness.

You are being dishonest. She’s accused him of far more than that! But being that HN is ran by PG zealots, actually discussion of these allegations will be muzzled before it hurts anyone’s bottom line…

She has said "I have been sexually, physically, and financially abused by members of my family, especially Sam Altman and sometimes Jack as well". This, plus the other two quotes in my previous comment, are the most she has actually said, from what I've seen.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#170

Post by mrangle »

newsclues wrote: post #24
gwnywg wrote: post #3

If the article is based on facts then... is this not an example of corruption?

I am not a lawyer, but not necessarily. I think it comes down to, is this good for this company. If not and you are directing sales to another company that benefits you, that would be bad, but if buying from the other company you invest in is good for OpenAI, then it's ok. You are allow to have other investments, it comes down to disclosure, and not making a bad deal for reasons that personally profit you.

This is the right take.
Post reply on HN