Meta backs Musk's controversial move to block OpenAI's profit shift
- Sam Altman, co-founder and CEO of OpenAI, chose not to take equity when the company was founded in 2015.
- His decision was motivated by a desire to prioritize the company's mission and uphold its nonprofit status.
- Altman's choice reflects his commitment to leading in the AI sector over financial gain, despite OpenAI's significant valuation.
In recent months, Sam Altman, the CEO of OpenAI, revealed his choice to forgo any equity stake in the company upon its establishment in 2015, a decision that has raised eyebrows in the tech community. OpenAI, co-founded by Altman and others, was initially set up as a nonprofit, aiming to lead research and development in artificial intelligence in a responsible manner. By rejecting equity, Altman aimed to maintain a majority disinterested board, a key requirement for OpenAI to retain its nonprofit status, amid concerns that profit motives could influence decision-making within the organization. This unusual structure not only attracts investment but also allows the company to maintain its focus on its mission rather than profit. During a recent appearance at the New York Times’ DealBook Summit, Altman articulated that his motivations lie in his passion for working on artificial general intelligence, reflecting his longstanding desire to contribute meaningfully to the field rather than simply amassing wealth. He noted that his current salary at OpenAI is $76,000, a stark contrast to the financial gains he could have realized through equity, especially given that the company is now valued at $157 billion. Despite allying with investors with concerns about the company’s for-profit arm, Altman remains committed to OpenAI’s goals and believes in the transformative potential of AI technologies. His decision to refuse equity has fueled speculation about his confidence in OpenAI’s future, but Altman continues to reaffirm his dedication to the organization and its mission. Meanwhile, rival tech company Meta has joined forces with Elon Musk to challenge OpenAI’s potential transition to a for-profit model, citing significant implications for the Silicon Valley landscape and the risks involved in blending nonprofit goals with profit incentives. This dynamic suggests that the ongoing discourse around OpenAI’s structure will only intensify as stakeholders navigate the intricate relationship between advancing technology and ethical responsibilities.