this post was submitted on 20 Nov 2023
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This is the best summary I could come up with:
On Friday, OpenAI’s board shocked investors and employees alike by firing CEO Sam Altman.
Marcus wrote about the situation on his Substack, sharing an analysis written by Fortune’s Jeremy Kahn earlier in the day.
In OpenAI’s unusual structure, a board “with no financial interest was supposed to look out for humanity,” Marcus wrote.
When faced with the potential financial repercussions of Altman’s removal, “the nominally subordinate for-profit (both employees and investors) quickly set to work to push out the board and to undo its decisions,” Marcus wrote.
Altman had told investors that if he did return to OpenAI, he wanted a new board and governance structure, according to the Wall Street Journal.
“The tail thus appears to have wagged the dog—potentially imperiling the original mission, if there was any substance at all to the Board’s concerns,” wrote Marcus.
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