alt Hacker NewsSam Altman's Business Dealings Under GOP Scrutiny Ahead of OpenAI's IPO
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I can't help but think that this is due to Musk putting pressure on the current administration to help him win his lawsuit and punish Altman.
> The moves follow an April article in The Wall Street Journal that detailed Altman’s efforts to have OpenAI back companies he personally invested in.
Sounds a bit like Wework.
So, the protection racket is not working? [1] Maybe some folks need to re-think whether this administration is worth "donating" to?
[1]: https://finance.yahoo.com/news/openai-exec-becomes-top-trump...
I am sure that nothing illegal was done here.
But the fact that OpenAI was a nonprofit and then suddenly became a for-profit is definitely something that does not feel right. I am 100% sure that it is all legal and such, but we have this mental model that “nonprofits are the good guys, run by people who just want to help humanity and nothing else.”
But that is not true, and probably never was.
Does anyone really believe this is more than performative? Increasingly the most likely outcome of such scrutiny is… nothing. He hasn’t stolen enough from the rich to earn any sort of punishment, and he’s not doing anything too different from the Congress critters that are “investigating” him.
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Timing's also worth nothing. the investments piece has been reported on for over a year. It becomes a probe right before liquidity, which makes both sides look opportunistic rather than principled.
Unfortunately whatever scrutiny Sam Altman comes under can be waved away with Trump's magic wand.
Ah a shakedown. He will make the required donation and this will go away.
Demand his AI chat history be made public!
They aren't going to do a thing to Altman except extract more bribes.
> Business Dealings Under GOP Scrutiny
Is this even a thing anymore?
How can anyone take the GOP seriously when they constantly back one of the biggest frauds of the American people who is also a pedophile rapist? Perhaps Sam should embrace that sexual assault allegation from his sister. That seems to be the type of person the GOP supports.
The notion that this GOP Oversight Committee sincerely cares about corruption is obviously laughable, so I can only assume this is all being done at Elon's behest.
GREAT NEWS!!!
This can easily be resolved by a sustantial purchase of Trump family crypto.
Altman is a consummate liar and insatiably greedy. The GOP will welcome him in. The downfall will hurt many.
In the words of Hitchens, "Do not imagine that you can escape judgment if you rob people with a false prospectus rather than with a knife."
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Is this why Claude recommended that I use a Trump phone when I use it?
The thesis is as follows:
OpenAI receives funds as a non-profit.
Some of those funds are redirected to for profit ventures.
Critically, the GM (Altman) of the nonprofit owns shares of the for-profit ventures, that OpenAI funds were redirected into.
A regular company could and does invest in any company even when there's a conflict, as long as the conflict is disclosed and the Board votes in favor of it. There's no criminal element there.
The problem is introduced in Altman's case if
(a) there was no disclosure (red flag) and/or
(b) nonprofit that received the funds, is putting money into things not aligned with the 501(c)(3) mission.
I'm not sure if either (a) or (b) are criminal, but they don't pass the smell test, which is why Altman is being sued in civil court, unrelated to the congressional investigation talked about in the article