Earlier quoted context omitted.
Because they believe they will turn a profit on the investment (in expectation). Next question
Universities are not hedge funds
Sam Altman got $75M from the University of Michigan for a new VC fund
21–30 of 48 posts
Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#22Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#23> In a statement to Fortune, an OpenAI spokeswoman said that Altman “is fully focused on his role as CEO of OpenAI and spends only a small fraction of his time investing. He maintains transparency with the board about his occasional investments and adheres to a process for managing potential conflicts of interest.” I thought "is fully focused" meant all his attention was there? Also "He maintains transparency with th…
Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#24Can someone explain how Sam is able to run so many things at once? I am working on my startup and I barely find time to scroll HN during my toilet breaks.
Do you have the money, connections, trust to hire someone to delegate 90% of the work you’re doing on your startup?
Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#25He had a startup that seemingly had an uninteresting exit (raised 30M sold for 43M). Then he’s somehow PG’s protege and the role of YC president is invented for him.
Next thing you know he’s attempting a replacement for traditional currencies (worldcoin) and running the most technologically significant startup in the world (OpenAI) funded by everyone from Elon Musk to Microsoft.
Meanwhile he’s got infinite side hustles like the one in this article.
Obviously a guy that people trust with their money but from my perspective (nowhere near his circles) there are some missing pieces in this meteoric rise.
Anyone know of a resource to help me fill in the gaps?
Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#26Can someone explain how Sam is able to run so many things at once? I am working on my startup and I barely find time to scroll HN during my toilet breaks.
You’re doing it wrong. You need to get other people to do the actual work while you go out and get yourself involved in more things.
> Law 7: Get Others to Do the Work for You, but Always Take the Credit: Get others to do your work for you. Use their skill, time, and energy to further your ambitions while taking full credit. You’ll be admired for your efficiency.
Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#27Earlier quoted context omitted.
Because they believe they will turn a profit on the investment (in expectation). Next question
Universities are not hedge funds
Smaller universities seem to make a lot on student rental accommodation, at least in places like Australia.
Maybe tuition is their side business.
Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#28I hesitate to ask on HN (given that this is an arm of YC) but can anyone explain the rise of Sam? He had a startup that seemingly had an uninteresting exit (raised 30M sold for 43M). Then he’s somehow PG’s protege and the role of YC president is invented for him. Next thing you know he’s attempting a replacement for traditional currencies (worldcoin) and running the most technologically significant startup in the wor…
I don't have any resources to help and I'm also interested if anyone knows anything.
Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#29Can someone explain how Sam is able to run so many things at once? I am working on my startup and I barely find time to scroll HN during my toilet breaks.
Can someone explain why a public university is giving money to Sam Altman rather than the other way around? Or is this the primary/hedge-fund part of the university rather than the professional sports organization or the vestigial academic departments?
Re: Sam Altman got $75M from the University of Michigan for a new VC fund
#30Earlier quoted context omitted.
Because they believe they will turn a profit on the investment (in expectation). Next question
Universities are not hedge funds
https://en.wikipedia.org/wiki/List_of_colleges_and_universit...