This is the reason why the creator of ChatGPT was fired from his own startup

Altman was suddenly dismissed by the OpenAI board of directors at the end of 2023. After being declared a conflict of interest and remaining CEO, he is now fired.

OpenAI has fired Sam Altman from leading its venture capital arm. In a filing to the U.S. Securities and Exchange Commission (SEC), the ChatGPT maker startup stated that Altman no longer owns or controls the OpenAI Startup Fund.

The change was documented last March 29, 2024. According to the company, Altman has no interest in the funding company despite holding ownership, as quoted from on Tuesday (4/2/2024).

According to an OpenAI spokesperson, the previous general partner (GP) structure was only a temporary arrangement. The changes being made now are said to provide further clarity.

The fund's controlling position has been held by Ian Hathaway since 2021. Altman is also listed as no longer being a general partner in the company. For information, the OpenAI Startup Fund invested US$175 million. The money comes from the company's partners, including Microsoft.

This latest news follows a five-day dismissal drama that occurred last November. Altman was announced to be fired from the leadership position at OpenAI.

The Board of Directors said the dismissal was because Altman was not honest with them. It was not explained what Altman was hiding from the company. At that time, Altman's dismissal shocked the technology world and prompted employees to threaten mass resignations from the company.

The European Commission, the European Parliament, and the European Council, which were nearing the end of discussions on the details of the AI ​​Act, which required some companies to complete extensive risk assessments and provide data to regulators. Brando Benifei, one of the two European Parliament members leading the negotiations on the law, said Altman's dismissal drama from OpenAI shows that regulators cannot rely on individual company arrangements alone. (IN)

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