I called this yesterday. I said the board would be forced out under the pressure, and Sam would be back. It was obvious. Even if it is a not-for-profit company, it bows under investor pressure.
OpenAI board in discussions with Sam Altman to return as CEO
741–750 of 1001 posts
Re: OpenAI board in discussions with Sam Altman to return as CEO
#742To put all of this into perspective, it would be good to know what "... not consistently candid in his communications with the board" means.
Re: OpenAI board in discussions with Sam Altman to return as CEO
#743This makes no sense. People are calling what the board did a coup, but Altman is trying (failing?) to stage a coup. The board was Altmans boss - this is pretty much their only job. Altman knew this and most likely ignored any questions or concerns of theirs thinking he is the unfireable superstar Imagine if your boss fired you - and your response was - I’ll come back if you quit! Yeah, no. People might confuse status…
Making no effort to obtain a grasp on the basic facts of the situation doesn’t seem to stop people here from posting embarrassing rants. Altman was on the board. He was not “just another employee.” Brockman was also on the board, and was removed. It was a 4 on 2 power play and the 2 removed were ambushed. You also don’t seem to realize that this is happening in the nonprofit entity and there are no shareholders to fi…
They even put a nice little page up about it on their site. But that structure is not going to survive this whole ordeal.
Re: OpenAI board in discussions with Sam Altman to return as CEO
#744Earlier quoted context omitted.
The major investors whose money is on the line and who are funding the venture, Microsoft, Sequoia, and Khosla, were not given advanced warning or any input in to how this would impact their investment. I would definitely say the board screwed up. https://www.forbes.com/sites/alexkonrad/2023/11/17/openai-in...
The board of the non-profit (one that fired Sam) has no fiduciary duty to those investors, I believe. Microsoft invested in the for-profit Openai, which is owned by the non-profit. The other ones I don't know. The board has no responsibility to Microsoft whatsoever regarding this. Sam Altman structured it this way himself. Not to say that the board didn't screw up.
That Microsoft agreed to such a deal is negligence of the highest order.
Re: OpenAI board in discussions with Sam Altman to return as CEO
#745Bloomberg now reporting the board "balking" at resigning. I suspect they never intended to resign. They fully expected this firestorm.
https://www.bloomberg.com/news/articles/2023-11-18/openai-bo...
Re: OpenAI board in discussions with Sam Altman to return as CEO
#746This makes no sense. People are calling what the board did a coup, but Altman is trying (failing?) to stage a coup. The board was Altmans boss - this is pretty much their only job. Altman knew this and most likely ignored any questions or concerns of theirs thinking he is the unfireable superstar Imagine if your boss fired you - and your response was - I’ll come back if you quit! Yeah, no. People might confuse status…
In a coup, a leader with the support of the people is ousted by force. If we believe the reports that there will be mass resignations, that seems to indicate the founders enjoy the “support of the people.”
Of course you can protest, “but in this country the constitution says that the generals can sack the president anytime they deem it necessary, so not a coup.” Yes, but it’s just a metaphor, so no one expects it to perfectly reflect reality (that’s what reality is for).
I feel we’ll know way more next week, but whatever the justifications of the board, it seems unlikely that OpenAI can succeed if the board “rules with an iron fist.” Leadership needs the support of employees and financial backers.
Re: OpenAI board in discussions with Sam Altman to return as CEO
#747Bloomberg now reporting the board "balking" at resigning. I suspect they never intended to resign. They fully expected this firestorm. https://www.bloomberg.com/news/articles/2023-11-18/openai-bo...
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Re: OpenAI board in discussions with Sam Altman to return as CEO
#748This is unfathomably depressing for me; I am solidly in the non-profit, open etc. camp, and the way the board has handled the situation seems to be putting a tombstone to any opponents to Altman's way of doing things: profits uber alles, moats galore, non-profit-wink-wink-nudge-nudge; an unmitigated disaster.
Folks in general are going to look much more askance of complicated corporate structures.
Re: OpenAI board in discussions with Sam Altman to return as CEO
#749This makes no sense. People are calling what the board did a coup, but Altman is trying (failing?) to stage a coup. The board was Altmans boss - this is pretty much their only job. Altman knew this and most likely ignored any questions or concerns of theirs thinking he is the unfireable superstar Imagine if your boss fired you - and your response was - I’ll come back if you quit! Yeah, no. People might confuse status…
The true boss is who pays your salaries.
Microsoft in this case.
Re: OpenAI board in discussions with Sam Altman to return as CEO
#750Earlier quoted context omitted.
Mass resignations from whom, I wonder. Other researchers?
Presumably a significant amount of OpenAI employees are motivated by money, at least in some form. The board just vaporised the tender offer, and likely much of their valuation. It’s hard to have confidence in that.
It's simple collective bargaining. I wonder how many of them oppose unions... until they have a need to work together.