AI Snips
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Sam Altman's Equity Controversy
- Sam Altman claimed he had no equity while testifying before Congress but later revealed a small equity stake through a Sequoia fund and Y Combinator fund.
- This lack of disclosure raises questions about transparency given OpenAI's unique nonprofit-to-for-profit transition.
OpenAI’s Massive Valuation Growth
- OpenAI's valuation surged 10x from $14 billion in 2021 to $150 billion recently, amplifying the value of any equity.
- The exact worth of Altman's stake is unclear due to fund secrecy, but his investment potentially multiplied significantly.
Disputed Awareness of Equity Stake
- OpenAI says Altman had no direct ownership, only a minor stake in a Sequoia fund that included OpenAI shares.
- It’s implausible Altman was unaware of this during his CEO tenure, reflecting unusual opacity in disclosure.