Sam Altman's Business Negging

Quoting from Matt Levine’s Money Stuff newsletter:

The place you want to reach in your career is where you work for a company and you are like “you know what, I am just so rich, I don’t want you to pay me anymore, it’s fine, I’ll work for free,” and your bosses are like “nope, sorry, we insist, we cannot allow you to work here for less than $10 billion.” And then you’re like “ohhhhhhhh fine, fine, fine, I do love working here, and if there’s really no other way, I guess I will take the $10 billion.” Nothing remotely like this has ever happened to me in my life but here’s Sam Altman:
> On Thursday, Altman told some employees that there were “good reasons” he shouldn’t take equity, though he didn’t elaborate. And he said investors were pushing for an equity grant to align his financial interests with those of OpenAI, said someone who heard the comments.
> Altman also said a Wednesday news report that he might get a 7% stake in the new OpenAI was “ludicrous.”

We talked about this last week: There have been reports that, as OpenAI becomes a for-profit company, it might give Altman (its co-founder and chief executive officer, who currently owns no equity) a 7% stake worth about $10 billion. I surmised that this was not something he wanted, but something the investors wanted: “He is the founder and CEO of a hot startup, and the founder and CEO of a hot startup is supposed to own equity. Not just for his sake — not just so that he can be rich — but to align incentives.” And here is Altman saying that: He doesn’t want the $10 billion, but the investors are insisting.
Nobody in history has ever been better at, like, business negging than Sam Altman. He got OpenAI to a $150 billion valuation in part by going around saying “oh no, nobody should allow us to build our product, we’re going to destroy humanity,” and now he is allegedly going to get handed a $10 billion stake in OpenAI because he’s going around saying “oh no, nobody should give me equity, that’s ludicrous.”

Sam Altman’s Business Negging