Sam didn’t inform the board that he owned the OpenAI Startup Fund, even though he constantly was claiming to be an independent board member with no financial interest in the company.
Sam has publicly said he has no equity in OpenAI. I’ve not been able to find public quotes where Sam says he has no financial interest in OpenAI (does anyone have a link?).
It would be hard to imagine he has no interest, I would say even a simple bonus scheme whether stock, options, cash, etc. would count as “interest”. If company makes money then so does he.
He said this during that initial Senate hearing iirc, and I think he was saying this line frequently around then (I recall a few other instances but don’t remember where).
Oh also fwiw, I believe this was relevant because the OpenAI nonprofit board was required (by its structure) to have a majority of board members without financial interest in the for-profit. Sam was working towards having majority control of the board, which would have been much harder if he couldn’t be on it.
Sam has publicly said he has no equity in OpenAI. I’ve not been able to find public quotes where Sam says he has no financial interest in OpenAI (does anyone have a link?).
It would be hard to imagine he has no interest, I would say even a simple bonus scheme whether stock, options, cash, etc. would count as “interest”. If company makes money then so does he.
He said this during that initial Senate hearing iirc, and I think he was saying this line frequently around then (I recall a few other instances but don’t remember where).
Oh also fwiw, I believe this was relevant because the OpenAI nonprofit board was required (by its structure) to have a majority of board members without financial interest in the for-profit. Sam was working towards having majority control of the board, which would have been much harder if he couldn’t be on it.