This Week in Startups OpenAI drama, billion-dollar exits, and founder salaries with new co-host Alex Wilhelm | E1953
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May 21, 2024 Dive into the latest OpenAI drama, with equity issues leaving employees in a bind. Discover how GPT-4 is reshaping AI interactions, outclassing Siri and Alexa in the process. Explore the ethical concerns around AI voice likeness and how it impacts the industry. The conversation also highlights the balancing act founders face with their salaries and company sustainability amid changing market dynamics. Plus, a look at the resurgence of crypto venture capital and its implications for innovation.
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OpenAI Drama
- OpenAI's frequent drama, including Sam Altman's firing and rehiring, makes it the "soap opera" of the tech industry.
- The company's non-profit/for-profit hybrid structure adds to the intrigue, with employee equity stakes worth billions.
Equity Clawback Clauses
- Equity clawback clauses for disparagement are common in exit deals, often reciprocal for both employee and company.
- OpenAI's situation gained attention due to its ongoing drama and the potential clawback of vested equity, which is unusual.
Founder Salaries
- Founders should pay themselves the lowest amount necessary to live comfortably, prioritizing investment in the startup.
- A typical range is $5,000-$10,000 per month in the early years, focusing on maximizing enterprise value.