The departures of Ilya Sutskever and Jan Leike have brought to light OpenAI's restrictive NDA, which prevents former employees from criticizing OpenAI under threat of losing their vested equity. CEO Sam Altman responded to the story by promising a fix.
Wednesday, May 22, 2024Former OpenAI board member Helen Toner revealed new details about what led to CEO Sam Altman's ousting in November in a recent interview. The board had apparently learned about ChatGPT's release on Twitter. Toner says that Altman had lied to the board multiple times. Altman was reportedly withholding information and misrepresenting things that were happening in the company for years. His lies made it difficult for the board to make decisions, leading them to think that he wasn't the right person to lead the company to AGI.
Tesla shareholders will decide whether to approve a $56 billion compensation package for Elon Musk on June 13. Tesla board chair Robyn Denholm wrote a letter to shareholders, urging them to approve the package. Not approving the package may mean Musk may leave the company. While several proxy firms have recommended against approving the pay proposal, early voting suggests that the package will be approved.
Many of OpenAI's early employees are sitting on millions of dollars worth of equity. The only way for them to realize any value from this equity in the near term is through secondary stock sales. OpenAI has told employees that it will try to hold one tender offer roughly every year depending on how both the company and the market are faring at the time. Current and former employees are increasingly concerned about access to liquidity after reports that the company has the power to claw back vested equity. The company has used aggressive tactics to get employees to sign exit agreements that affect the future of their stock holdings.
This article provides a summary of what was discussed at Tesla's annual meeting. Tesla shareholders have voted to ratify CEO Elon Musk's $56 billion pay package. While the vote doesn't override an earlier court ruling that ordered Tesla to rescind the package, it provides a public relations victory for Musk and could help him sway a court to give him the performance options in the future. Shareholders also voted to move Tesla's site of incorporation out of Delaware and into Texas.