December 20, 2024:
Sam Altman Admits Past OpenAI Equity via Sequoia - OpenAI CEO Sam Altman disclosed that he previously had a negligible equity stake in OpenAI through a Sequoia fund, despite earlier statements of no ownership. This stake was sold, and his minimal investment now originates from an old Y Combinator fund. Altman's ownership decisions align with OpenAI's nonprofit structure, which requires independent board directors.
OpenAI's shift to a for-profit entity faces legal challenges from Elon Musk and scrutiny over Altman's motivations and past investments. Altman criticizes Meta and Musk, highlighting the complexities surrounding OpenAI's evolving business model and governance structure.
