Re:Details emerge of surprise board coup that ousted CEO Sam...
by roguecoder on Saturday November 18, 2023 @04:44PM
(#38324856)
Why do you think someone who could be CEO of a $100 million company would be qualified to run a billion dollar company?
Not providing this kind of oversight is how we get disasters like FTX and WeWork.
Re:Details emerge of surprise board coup that ousted CEO Sam...
by dmix on Saturday November 18, 2023 @05:39PM
(#38325435)
The qualifications of what remains of the board members would make me very nervous if I was an investor (not to mention the ideological tinge and willingness for bucking radically). At least 50% seem to be simply professional non-profit board members (unless there's some hidden biographical details not on the internet), now in control of a bohemoth. Who they replace Sam and Greg with will probably be very important.
I'm sure theyll have lots of boring money to be thrown at it regardless but that demand for capital is not going away. It will be persistent.
When a company experiences this level of growth over a decade, the board evolves with the company. You end up with board members that have all been there, done that, and can truly guide the management on the challenges they face.
OpenAI's hypergrowth meant it didn’t have the time to do that. So the board that was great for a $100 million, even a billion $ startup falls completely flat for 90x the size.
I don’t have faith in their ability to know what is best for OpenAI. These are uncharted waters for anyone though. This is an exceptionally big non-profit with the power to change the world - quite literally.