31–40 of 81 posts
The article talks about averages, but what I want know is the median. The usual situation, and I have zero reason to believe OpenAI is different, is that stock options are top heavy leaning heavily toward executives. I want to know rank and file salaries as opposed to stock options
In general, I wish the media would stop using just the average when the distribution is not normal.
Earlier quoted context omitted.
You also need to take into account equity, since it went up 250% in a year it can be a large amount of someone's compensation.
Until it’s really liquid it’s still fiction. The salary and other cash compensation is all that matters until you can actually sell the options
If there are enough opportunities to offload stock on the secondary market (which seems to be the case of them), then it’s not fiction.
Earlier quoted context omitted.
This is the general rule, but not for ones the size of OpenAI. There’s always a secondary market for prominent enough companies.
Dont all private companies require approval for secondary sales, which I assume are not ever approved?
I'm not surprised they have to pay higher, since no amount of money could convince me to work towards human irrelevance, or BigAdTech. When I see this technology improve and free the lives of those whose salary is akin to slavery, then I might reconsider. Context: I've been reading about the Mondragon Corporation, and it seems a much better model than this maximum extraction economy we are building. I'll submit a sto…
The way Altman and others want AI to develop, this is what they’re working toward too
OpenAI is exactly what happens when a company finds itself in such a far, far away blue ocean strategy that there are no more traditional "economic anchors" (to call it that) to reason with. It usually ends in blood and tears, for both employees and investors. BUT: the SOTA has been greatly advanced, which matters a great deal more than the destiny of a particular corporation or the social status of sam-i-am. So, ove…
Earlier quoted context omitted.
Until it’s really liquid it’s still fiction. The salary and other cash compensation is all that matters until you can actually sell the options
Want does “really” mean? If there are enough opportunities to offload stock on the secondary market (which seems to be the case of them), then it’s not fiction.
If not, I am to assume this isn’t true, and that they are functionally non liquid possible assets at the discretion of OpenAI to sell
Maybe a wild round of mergers & acquisitions, combined with regulatory capture and some monopoly will be what settles everything. Probably with a crash in the middle of it all.
I'm not surprised they have to pay higher, since no amount of money could convince me to work towards human irrelevance, or BigAdTech. When I see this technology improve and free the lives of those whose salary is akin to slavery, then I might reconsider. Context: I've been reading about the Mondragon Corporation, and it seems a much better model than this maximum extraction economy we are building. I'll submit a sto…
Browsing OpenAI's careers page, I'm seeing at most $275k for most positions, so I'm assuming the median is much lower than an average being pulled up by a few rockstar positions.
https://openai.com/careers/research-engineer-research-scient...
Anyone that works for startups knows that it’s not really “compensation” until it’s cash in your bank account. Until then it’s just a theoretical number on paper, which tends to end up being worth a lot less than originally advertised/hoped.
I’ve lost track of the number of times that someone’s startup got acquired for (insert what sounds like a big number) and everyone is like “wow the employees must all be rich” only to find out later that after preferred cap tables and other terms the employees got very little.
A lot could happen here, but history says “watch this space” on this stock-based comp. Some options on the secondary markets but that only works as long as OpenAI can convince more people to dump money on the burning pile of cash they have going at the moment.