Billionaire David Sacks of the All in Podcast explains how CEO Sam Altman will won most of OpenAI. Sacks says that the funding for OpenAI has been a capped return model. Capped return means that investors get returns up to some multiple say 10X or 100X. When they get their return then there shares revert back to the company.
This is how Sam Altman can make the claim that he has no equity in OpenAI. However, Sam was a co-founder of OpenAI (along with Elon Musk).
Also, Sam owns a foundation that owns a lot of OpenAI.
OpenAI is talking the X-Apple Designer Dan Ives and Softbank to make an OpenAI iPhone-like device.
Large Language Models (LLM) like OpenAI ChatGPT could be revolutionizing the Operating System, the user interface and other layers. Software and AI could get LLM layers where the neural nets talk to each other via LLM. They can get better decisions and actions by say having a self-driving car detect a person and then having the system ask a LLM to interpret the environment with text input and output. The wall of apps on an iPhone could be replaced with verbal or visual interfaces.
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I wouldn’t expect a language AI model to be equal to human intelligence anymore than a parrot would.
It’s a good thing no one can overly abuse patent ownership in the US (at least not without buying off all the politicians first).
Quote:
Government patent use law is a statute codified at 28 USC § 1498(a)[1] that is a “form of government immunity from patent claims.” Section 1498 gives the federal government of the United States the “right to use patented inventions without permission, while paying the patent holder ‘reasonable and entire compensation’ which is usually “set at ten percent of sales or less”. This statute “allows federal agencies and third party government contractors to manufacture and/or use any invention without authorization from the patent holder. The federal government’s rights are without an obligation for prior negotiation.”
This sort of smart phone is likely also what Musk plans for X as a superapp. An app that runs on most existing Android and Apple smartphones will scale much faster than new hardware.
My guess is X will put out a personal digital assistant based on LLM tech that is a genuine natural language + touch screen interface as a feature of X – making access to the many new features of X easy with no steep learning curve.
I’d name it Xena.
Ill gotten gains are illegal. The money he had available for investment in OpenAI was from his illegal dealings (stealing).
Illgotten in more ways than one. After scraping the whole internet for years and mining all usable data to train the models tech giants will suddenly pull up the draw bridge and prevent anyone else from following them just like they have with interoperatibility of file formats (e.g. using DMCA to prevent reverse engineering any newer file formats). X has already done this by demanding exorbitant fees for API access.
This can blow back on them legally, as it is not their data. Just as with google their goal is to act in secrecy and then burst onto the scene and act fast before legislation can catch up to their missdeeds. When the economy is too reliant on their AI products it will be hard to retroactively stop them, just like it was with google’s businees model of extensive spying on their users.
Do we know how many shares he owns/will own, after investors will get returns?
Do we know if Musk own shares? How many? With new round of investment, OpenAI valuation may go up to $90-100B.
I am curious, by how much this will increase Musk/Altman net worth
And if they will pull it off with way better(than GPT-4) GPT-5, valuation may easily go up to $1T. With AGI + using it as a brain in their humanoid robot, we’re talking about $10T-200T
valuation. Global GDP in 2023 is $105 trillion. If creative, inventive ASI emerges, then, almost instantly economy size goes into at least quadrillions of dollars.