Point of order: Anthropic is the most important AI company now.
People discount Google/Deepmind but a lot of the original research was done there including inventing transformers which form the basis of the other AI companies.
Greg Brockman interview [video]
111–120 of 276 posts
Re: Greg Brockman interview [video]
#112Earlier quoted context omitted.
Worse? There is nothing wrong with wanting 1B. Anybody who said they wouldn't want it is lying.
Every billionaire is a policy failure. It's not a question of equity, the issue is that no one human should be that powerful. It's very obvious that its leading to the US's rather quick and colorful decline. A small cohort of very powerful people are moving elections and policy to enrich themselves, everyone else be damned.
Even assuming all of this is true, nothing you've said means it's wrong to want a billion dollars. As described, your issue is with the system that makes it possible to get it.
Re: Greg Brockman interview [video]
#113not sure why but this episode feels v boring perhaps because he didn't share anything unexpected / unknown
I found it more interesting than I thought because I thought it'd all be stuff I knew but a lot was new to me.
Re: Greg Brockman interview [video]
#114Re: Greg Brockman interview [video]
#115Thankful for the mention of "AGI" in the first lines as I can bail out from reading the rest. Whatever AGI is, it "AGI" is not glueing a load of text prediction machines together.
I'm not sure people are saying AGI is glueing text machines.
Re: Greg Brockman interview [video]
#116Point of order: Anthropic is the most important AI company now.
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Re: Greg Brockman interview [video]
#117I just don’t understand why a non-profit was allowed to do this. Does this not set a precedent that non-profit doesn’t actually mean anything? You can just use a favorable structure until it’s time to enrich yourself.
I think it would be helpful for you to clarify which part of the chain you found objectionable:
- in 2015, OpenAI was founded as a Delaware nonprofit
- in 2017, OpenAI discovered the scaling laws and realized they needed far more compute (and thus money) than they had initially anticipated
- that discovery precipitated a series of negotiations between the founders on how to restructure OpenAI to raise more money for compute, ultimately resulting in Musk’s departure when the other founders would not give him control
- in 2018, OpenAI attempted to dramatically increase its fundraising despite Elon ending his contributions, but raised only $50M of its $100M goal
- in 2019, OpenAI created a capped-profit subsidiary in order to attract funding from commercial entities
- the nonprofit hired an independent assessor to value its IP, and then transferred that IP to the for-profit for fair value (around $60 million in 2019)
- the OpenAI nonprofit received a right to 100x capped return on its IP investment, or $6B, once the for-profit began making a profit. The nonprofit also received the right to the residual profit after all future investors reached their caps
- in 2019, OpenAI’s capped-profit received $1B in investment from Microsoft. OpenAI later received $2B from Microsoft in 2021 and $10B in 2023 as compute scaling continued
- Microsoft received a cap of 20x on its $1B investment, and 6x on its $2B and $10B investments, for a total of $92B target redemption
- in 2025, OpenAI’s for-profit entity recapitalized from a capped-profit entity with residuals flowing to the nonprofit to a traditional public benefit corporation with traditional equity
- in exchange for the residual (and 100x profit cap on the original $60M transfer) the nonprofit received a 26% equity stake in the for-profit. That stake is currently valued at around $200B
All of the above is from the record in Musk v. Altman, thanks to which we now have all the details. The upshot for the nonprofit is that it transferred IP worth around $60M in 2019 for rights to $6B in future profit, and then ended up with $200B in equity after the recapitalization. I see a lot of people in this thread assuming that the nonprofit no longer exists, which is not true.
Re: Greg Brockman interview [video]
#118I just don’t understand why a non-profit was allowed to do this. Does this not set a precedent that non-profit doesn’t actually mean anything? You can just use a favorable structure until it’s time to enrich yourself.
It should not surprise you to learn that Greg Brockman is a Trumper and major donor. It should also not surprise you that the Epstein files have not been released. Everything is possible and not possible in a corrupted system.
He's from North Dakota, just like Doug Burgum. Lot of Trump cultists in ND
Re: Greg Brockman interview [video]
#119Re: Greg Brockman interview [video]
#120I just don’t understand why a non-profit was allowed to do this. Does this not set a precedent that non-profit doesn’t actually mean anything? You can just use a favorable structure until it’s time to enrich yourself.
I think it would be helpful for you to clarify which part of the chain you found objectionable: - in 2015, OpenAI was founded as a Delaware nonprofit - in 2017, OpenAI discovered the scaling laws and realized they needed far more compute (and thus money) than they had initially anticipated - that discovery precipitated a series of negotiations between the founders on how to restructure OpenAI to raise more money for…
The OpenAI non-profit is now one of the biggest non-profits in dollar-denominated assets. If the goal was to make the non-profit really big and well-funded then that seems on track. But not clear to me what it would do to advance its mission.