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Sam Altman will not be returning as CEO of OpenAI, after a furious weekend of negotiations.
The Information reports:
Sam Altman won’t return as CEO of OpenAI, despite efforts by the company’s executives to bring him back, according to co-founder and board director Ilya Sutskever. After a weekend of negotiations with the board of directors that fired him Friday, as well as with its remaining leaders and top investors, Altman will not return to the startup he co-founded in 2015, Sutskever told staff. Emmett Shear, co-founder of Amazon-owned video streaming site Twitch, will take over as interim CEO, Sutskever said.
The decision “which flew in the face of comments OpenAI executives shared with staff on Saturday and early Sunday “could deepen a crisis precipitated by the board’s sudden ouster of Altman and its removal of President Greg Brockman from the board Friday. Brockman, a key engineer behind the company’s successes, resigned later that day, followed by three senior researchers, threatening to set off a broader wave of departures to OpenAI’s rivals, including Google, and to a new AI venture Altman has been plotting in the wake of his firing.
Venture capitalist Jason Calacanis predicts on X:
The employees at OpenAI just lost billions of dollars in secondary share sales that were about to happen at a $90b valuation – that’s over. Done.
I think OpenAI will lose half their employees, the 12-18 month lead, and 90% of their valuation in 2024.
Just insane value destruction
What’s your prediction for the future of OpenAI?
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