zlacker

Sam literally has 0 equity in OpenAI. How did he “choose money”?

>>nickv+(OP)
Who knows how these shady deals go, even SBF claimed effective altruism. Maybe Sam wasn't in it for the money but more for "being the man", spoken of in the same breath as steve jobs, bill gates etc... for building a great company. Building a legacy is a hell of a motivation for some people, much more so than money.

>>nickv+(OP)
Not quite accurate.

OpenAI is set up in a weird way where nobody has equity or shares in a traditional C-Corp sense, but they have Profit Participation Units, an alternative structure I presume they concocted when Sam joined as CEO or when they first fell in bed with Microsoft. Now, does Sam have PPUs? Who knows?