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Founder's Journal
Avoiding an OpenAI Fiasco by Successfully Building Your Board
Nov 20, 2023
Brett Adcock, serial entrepreneur who has raised over $1 billion of venture capital and has constructed four boards during his career, shares insights on successfully building a startup board. Topics discussed include the recent leadership changes at OpenAI, the structure and dynamics of OpenAI's board, building and controlling a board for long-term success, implications of losing voting rights, and starting a company in college and being aware of legal matters.
43:05
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Quick takeaways
- Founders must prioritize maintaining control over the direction and decision-making of the company when building a board.
- Awareness of the impact of preferred rights and protective provisions in investment agreements is crucial for founders.
Deep dives
The CEO shakeup at OpenAI
Sam Altman was removed as OpenAI's CEO and board member, leading to speculation about the reasons behind the decision.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode