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Sam Altman got $75M from the University of Michigan for a new VC fund

fortune.com

31–40 of 48 posts

Re: Sam Altman got $75M from the University of Michigan for a new VC fund

#31
post #25

I 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…

Walter Isaacson bio in 3..2..1

Re: Sam Altman got $75M from the University of Michigan for a new VC fund

#32
post #25

I 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…

He seems to be very good at making people think he is competent and get people to trust him.

Not sure how he does that, but I've noticed he does a lot of interviews and becomes the face of things, many does that though so there is probably much more to it.

Re: Sam Altman got $75M from the University of Michigan for a new VC fund

#33
post #25

I 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…

Even before taking over as President at YC, he was incredibly helpful to a bunch of YC founders and others doing startups -- a combination of willingness to help, and knowing what to do/how to do it, plus being able to do it with high leverage. Mostly weird/unpleasant situations (like the OpenAI drama was, but at a much smaller scale). Doing that for several years before YC President, then presumably continuing to do so while YC President (I'd mostly drifted away from YC by then), goes a long way to explain everything.

Re: Sam Altman got $75M from the University of Michigan for a new VC fund

#34
post #25

I 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…

As a pleb, the article linked below is his biggest accomplishment that I know of, and I am not being sarcastic:

https://blog.samaltman.com/productivity

I do think it's cool that he is investing in fusion and life extension, and it seems "reasonable". Obviously, as a pleb, it's very hard for me to know what's reasonable.

As a side note, the whole concept of going from pleb to someone is fascinating, though I do think it's myth most of the time (e.g. Musk, Bezos, Caesar, Alexander the Great, etc).

edit: Just skimmed his bio again. Kind of fascinating how one person grinds code and begs to be promoted to senior / architect and another is directing billions.

Sam, if you are here, drop some advice.

Re: Sam Altman got $75M from the University of Michigan for a new VC fund

#35
post #16

Earlier quoted context omitted.

Because they believe they will turn a profit on the investment (in expectation). Next question

Universities are not hedge funds

In the US, they more or less are. The education side business is just for tax benefits.

Re: Sam Altman got $75M from the University of Michigan for a new VC fund

#38
post #8

Earlier quoted context omitted.

Lets go back to the beginning of YC. You can find a photo of the very first class. In that very first class, you'll see the AirBnb guys, the Twitch guys, the Reddit founders, and Sam frickin Altman. When you have 18 years of connections with virtually every successful YC startup, and happen to run the most disruptive company of the past 15 years, money and influence seeks you out.

Agree and you have a very reasonable comment, and I’m not sure why others don’t agree. Just one possible correction: the AirBnB guys were about 4 years later than the 1st batch. I don’t think any of them were in the 1st batch with a different startup like the Twitch crew.

My bad. Yes they weren't in the first batch. But hot damn being in that first batch was pretty big. Being the right place at the right time is incredibly important. Also, to be the specific kind of person to do YC so early on should probably not be undersold either.

Re: Sam Altman got $75M from the University of Michigan for a new VC fund

#39
post #28
post #25

I 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 think he's incredibly good with people or networking in some way. Paul Graham said “Sam is extremely good at becoming powerful.” I don't have any resources to help and I'm also interested if anyone knows anything.

> Paul Graham said “Sam is extremely good at becoming powerful.”

Are you paraphrasing, or did he say that verbatim? Not attacking your statement, just curious. I always am reminded of this part from a pg essay:

> Sam Altman has it. You could parachute him into an island full of cannibals and come back in 5 years and he'd be the king. If you're Sam Altman, you don't have to be profitable to convey to investors that you'll succeed with or without them. (He wasn't, and he did.) Not everyone has Sam's deal-making ability. I myself don't. But if you don't, you can let the numbers speak for you.

http://www.paulgraham.com/fundraising.html

Re: Sam Altman got $75M from the University of Michigan for a new VC fund

#40
post #25

I 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…

The ruling class can always find a great use for extremely ambitious and energetic leaders who are absolutely, fundamentally, and ruthlessly committed to the interests of the ruling class.
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