Could this be an attempt to prevent Altman from turning OpenAI into a for-profit too cheaply? If I understand correctly, then turning a non-profit into a for-profit requires selling the non-profit's assets at a fair price. If Altman says he buys it for 40bn and there is no other offer, then who's to say that this is not a fair price. On the other hand, with a 90bn offer on the table, it will be hard to argue that the assets are only worth 40.
> Probably his whole life is from a position of insecurity, i feel for the guy. I dont think he s a happy person i do feel for him.<p>- Altman on bloomberg<p>The shitposting upgraded to level 3
When Altman says "OpenAI is not for sale", is there any sense in which that is not a lie?<p>As part of the for-profit transition he is selling all of the non-profit's assets. Musk's group has offered to buy them, and Altman has declined, but he is still planning on selling them, no?
Isn't Musks offer just mischievous - making an offer at a lower valuation than OpenAI recently raised funds at, and I suspect substantially lower than any further attempts to raise even more capital.<p>Sam Altman appears to be trying to rush to use the current hype to create a large capital moat, and Musks low ball/realistic ( take your pick ) offer is trying to interfere with the raising of cash - putting doubt about the hyped valuations in investors minds.
Elon Musk’s bid for OpenAI isn’t about buying it but about disrupting its transition to a for-profit company. OpenAI Inc., the nonprofit, controls OpenAI LP, the capped-profit subsidiary. To convert to a full for-profit entity, OpenAI Inc. must sell its technology and IP to the new company, with regulators determining a fair valuation.<p>The rumored SoftBank investment at a $260B valuation relies on this transition, but the current estimated valuation is around $150B. Typically, control premiums in such deals range from 20-30%, putting the expected nonprofit payout at $30B-$40B. However, Musk’s $97B bid for OpenAI Inc.’s assets sets a significantly higher valuation, giving regulators a strong argument that the nonprofit should receive much more.<p>If regulators adopt Musk’s benchmark, OpenAI Inc. would end up with a 62% majority stake, making the transition far more complex or even blocking it entirely. Even though OpenAI won’t accept Musk’s offer, the bid’s primary effect is to make the legal and financial process of going for-profit much more difficult. It’s a strategic move designed to frustrate OpenAI’s leadership, particularly Sam Altman, and potentially derail the entire transition.
Whats educational here is to look into how Howard Hughes unraveled. Its not just a story about Howard Hughes, but how all the people around him who were mesmerized by him just went along for the ride.<p>The only difference is Howard Hughes was an introvert.<p>While Elon is an extrovert and in lives in the age of social media where likes/follower count amplify self delusion of the entire herd.
Musk's offer to buy OpenAI has put Sam in a corner. Given that Softbank recently made a similar offer of $40B, it would be idiotic of OpenAI's board to pass on Elon's offer which is more than double what Softbank offered.
Is there any chance that the board considers it at all?<p>I mean its mission is to maximize the interests of shareholders, and right now, it's unclear that OpenAI will maintain its dominating position over competitors in the long run.<p>EDIT: forgot to mention I am not a Trump/Musk guy in any way. Just talking about the deal here.
I have some inside information about Sam Altman's company. I don't have funds to pay to a lawyer, but I have video evidence of his firm stealing protected, sensitive and private data. What can I do with that? Can someone help?<p>I previously had huge respect for Sam Altman, he's a genius I thought and he is indeed very smart. But now I just think he may have delusion of grandeur. He has been asking for trillions [1], then getting $500B Tax Payer money for closed source software [2]. It's not that the ends doesn't justify the mean, but it's never an amount that would be needed to begin with. Is it corruption?<p>- [1] <a href="https://www.wsj.com/tech/ai/sam-altman-seeks-trillions-of-dollars-to-reshape-business-of-chips-and-ai-89ab3db0" rel="nofollow">https://www.wsj.com/tech/ai/sam-altman-seeks-trillions-of-do...</a><p>- [2] <a href="https://venturebeat.com/ai/openai-stargate-is-a-500b-bet-americas-ai-manhattan-project-or-costly-dead-end/" rel="nofollow">https://venturebeat.com/ai/openai-stargate-is-a-500b-bet-ame...</a>