TLDR:
- OpenAI is raising a $100 billion funding round with Sam Altman leading the charge towards AGI.
- VCs are becoming skeptical of Altman’s self-mythologizing and some are publicly disparaging him.
OpenAI, under the leadership of CEO Sam Altman, is seeking a substantial funding round of $100 billion to advance towards Artificial General Intelligence (AGI). Altman took an unconventional approach by presenting VCs with a take-it-or-leave-it proposition at a $29 billion post-money valuation with non-negotiable terms, leading to mixed reactions among investors. Some VCs privately criticize Altman for what they perceive as intellectual dishonesty and self-promotion. However, others view him as a visionary with a bold plan for the future of AI technology that can benefit humanity.
Despite Altman’s successful track record and ability to attract top-tier talent, some investors are put off by his perceived megalomania and desire to be the central figure in every narrative. Altman’s ambitious goals and self-mythologizing tendencies lead to varying opinions within Silicon Valley, with some comparing him to Alexander the Great of AI, while others question his true intentions and motivations. The backlash against Altman’s leadership style and approach underscores the intricate dynamics at play in the competitive world of venture capital and tech innovation.
