Sam Altman and Greg Brockman keep getting support from both sides of FinTech. Recently, Brian Armstrong, CEO of the cryptocurrency exchange Coinbase, stepped up to the plate. He even went so far as to say that the Board of Directors ofOpenAi came from “ burning $80 billion in value » by sacking Sam and Greg.
OpenAI, a coup d’état in the world of Artificial Intelligence
The decision of the OpenAI Board of Directors, tooust Sam Altman and Greg Brockman from OpenAI administration East unacceptable in the eyes of investors. Other crypto celebrities like Brian Armstrong have also expressed their displeasure with this.
“ Coinbase founder Brian Armstrong says effective altruism (FTX) destroys a lot of value in cryptocurrencies and now AI; all talented OpenAI employees should resign and join Sam/Greg’s new project if they do one; founders should maintain control and reject decelerations and EAs. »
Coinbase’s Brian Armstrong was blunt in calling the OpenAI Board’s decision a destruction of a shining star of American capitalism ». Indeed, he argued that with this gesture the 80 billion dollars that the AI company currently represents are going up in smoke.
However, Sam Altman’s recent initiative to place OpenAI above Stripe and Shein caused a valuation of 86 billion dollars to the parent company of Chat-GPT. Hence this solemn declaration :
“ […] All talented OpenAI employees should resign and join Sam/Greg’s new business (if they start one). This time, no nonprofit board of directors, no executive orders or association agreements, founder control is maintained, absurd regulations are avoided, and we just build. Accelerate progress. You are building something good for the worlddon’t let anyone make you feel guilty about it and try to monopolize it for their own motives. »
“Effective altruism”, a fiasco in the crypto industry
“Effective altruism” (EA) refers to a school of thought affiliated with utilitarianism. It consists of accumulate as much money as possible and then use it to carry out philanthropic acts.
In the crypto universe, Sam Bankman-Fried, ousted CEO of FTX, the American exchange behind the FTT token, is its ambassador. Remember him donating to Democrats during his reign? Of all the cryptocurrency exchange bosses, he was trigger-happy as a donor.
As a result, Brian Armstrong fears that this phenomenon could also alter the world of AI. Indeed, the effectively altruistic SBF caused heavy losses to its crypto exchange and to the entire industry at its time.
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