From 24m ago
Introduction: OpenAI turns to Emmett Shear to succeed Sam Altman as chief executive
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The question of who will run artificial intelligence pioneer OpenAI is gripping Silicon Valley, after the shock dismissal of CEO Sam Altman on Friday night.
And after a flurry of speculation that Altman will return, it appears OpenAI’s board has selected Emmett Shear, co-founder of video streaming service Twitch, as its interim chief executive.
OpenAI had faced calls from investors to reinstate the ousted Altman.
But Bloomberg reports that Shear, a computer scientist, has got the nod because “he appeared to recognize the existential threats that AI presented”, and has the expertise to lead a large engineering group.
Shear stepped down as chief executive officer of Twitch in March, saying he was now ready to move to the next phase of life, having become a father.
Shear would be OpenAI’s second interim CEO in under a week, as the board had initially appointed chief technology officer Mira Murati as interim CEO on Friday afternoon.
Altman has been regarded as the leading voice in the AI field since his company released ChatGPT in November 2022. But he was stunningly ousted from OpenAI on Friday night, with the board accusing him of “being not consistently candid in his communications”.
i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people.
will have more to say about what’s next later.
🫡
— Sam Altman (@sama) November 17, 2023
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i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people.
will have more to say about what’s next later.
🫡
— Sam Altman (@sama) November 17, 2023
President and co-founder Greg Brockman quit the next day, saying he had been told he was being removed from the board, adding that he continues to “believe in the mission of creating safe AGI that benefits all of humanity.”
After learning today’s news, this is the message I sent to the OpenAI team: https://t.co/NMnG16yFmm pic.twitter.com/8x39P0ejOM
— Greg Brockman (@gdb) November 18, 2023
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By Sunday, rumours were swirling that Murati was looking to rehire Alman and Brockman in some capacity.
Chief Strategy Officer Jason Kwon told staffers in a memo Saturday night that OpenAI is “optimistic” it can bring back Sam Altman, Greg Brockman and other key employees who departed in the wake of Altman’s sudden firing on Friday, C
And there was excitement last night that a deal could be close, after Altman posted a picture of himself wearing an OpenAI visitor badge, writing, “first and last time i ever wear one of these.”
first and last time i ever wear one of these pic.twitter.com/u3iKwyWj0a
— Sam Altman (@sama) November 19, 2023
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But the coup against Altman will not, it seems, be reversed.
OpenAI co-founder Ilya Sutskever has told staff that Shear has a “unique mix of skills, expertise and relationships that will drive OpenAI forward,” according to a memo viewed by The New York Times.
“The board firmly stands by its decision as the only path to advance and defend the mission of OpenAI,” said the memo, referring to Mr. Altman’s ouster on Friday. It was signed by each of the four directors on the company’s board; Adam D’Angelo, Helen Toner, Ilya Sutskever, and…
— Hoàng Maybach 𝝿 💎 (@HoangMaybach) November 20, 2023
","url":"https://twitter.com/HoangMaybach/status/1726478570653176111","id":"1726478570653176111","hasMedia":false,"role":"inline","isThirdPartyTracking":false,"source":"Twitter","elementId":"f894c25e-c3be-445e-801c-719bdec3863f"}}” config=”{"renderingTarget":"Web","darkModeAvailable":false}”>
“The board firmly stands by its decision as the only path to advance and defend the mission of OpenAI,” said the memo, referring to Mr. Altman’s ouster on Friday. It was signed by each of the four directors on the company’s board; Adam D’Angelo, Helen Toner, Ilya Sutskever, and…
— Hoàng Maybach 𝝿 💎 (@HoangMaybach) November 20, 2023
But the decision could deepen a crisis precipitated by the board’s sudden ouster of Altman and its removal of President Greg Brockman from the board on Friday, reports tech news site The Information.
The agenda
-
10am GMT: Eurozone construction PMI for September
-
3pm GMT: Conference Board leading economic index on US economy
-
6.45pm GMT: Bank of England governor Andrew Bailey to give 2023 Henry Plumb Memorial Lecture
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Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
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The question of who will run artificial intelligence pioneer OpenAI is gripping Silicon Valley, after the shock dismissal of CEO Sam Altman on Friday night.
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And after a flurry of speculation that Altman will return, it appears OpenAI’s board has selected Emmett Shear, co-founder of video streaming service Twitch, as its interim chief executive.
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OpenAI had faced calls from investors to reinstate the ousted Altman.
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But Bloomberg reports that Shear, a computer scientist, has got the nod because “he appeared to recognize the existential threats that AI presented”, and has the expertise to lead a large engineering group.
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Shear stepped down as chief executive officer of Twitch in March, saying he was now ready to move to the next phase of life, having become a father.
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Shear would be OpenAI’s second interim CEO in under a week, as the board had initially appointed chief technology officer Mira Murati as interim CEO on Friday afternoon.
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Altman has been regarded as the leading voice in the AI field since his company released ChatGPT in November 2022. But he was stunningly ousted from OpenAI on Friday night, with the board accusing him of “being not consistently candid in his communications”.
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i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people.
will have more to say about what’s next later.
🫡
— Sam Altman (@sama) November 17, 2023
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President and co-founder Greg Brockman quit the next day, saying he had been told he was being removed from the board, adding that he continues to “believe in the mission of creating safe AGI that benefits all of humanity.”
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After learning today’s news, this is the message I sent to the OpenAI team: https://t.co/NMnG16yFmm pic.twitter.com/8x39P0ejOM
— Greg Brockman (@gdb) November 18, 2023
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By Sunday, rumours were swirling that Murati was looking to rehire Alman and Brockman in some capacity.
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Chief Strategy Officer Jason Kwon told staffers in a memo Saturday night that OpenAI is “optimistic” it can bring back Sam Altman, Greg Brockman and other key employees who departed in the wake of Altman’s sudden firing on Friday, C
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And there was excitement last night that a deal could be close, after Altman posted a picture of himself wearing an OpenAI visitor badge, writing, “first and last time i ever wear one of these.”
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first and last time i ever wear one of these pic.twitter.com/u3iKwyWj0a
— Sam Altman (@sama) November 19, 2023
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But the coup against Altman will not, it seems, be reversed.
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OpenAI co-founder Ilya Sutskever has told staff that Shear has a “unique mix of skills, expertise and relationships that will drive OpenAI forward,” according to a memo viewed by The New York Times.
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“The board firmly stands by its decision as the only path to advance and defend the mission of OpenAI,” said the memo, referring to Mr. Altman’s ouster on Friday. It was signed by each of the four directors on the company’s board; Adam D’Angelo, Helen Toner, Ilya Sutskever, and…
— Hoàng Maybach 𝝿 💎 (@HoangMaybach) November 20, 2023
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But the decision could deepen a crisis precipitated by the board’s sudden ouster of Altman and its removal of President Greg Brockman from the board on Friday, reports tech news site The Information.
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The agenda
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- \n
-
10am GMT: Eurozone construction PMI for September
-
3pm GMT: Conference Board leading economic index on US economy
-
6.45pm GMT: Bank of England governor Andrew Bailey to give 2023 Henry Plumb Memorial Lecture
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\n
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Key events
Filters BETA
The Information reports that dozens of OpenAI staffers internally announced they were quitting the company last night after learning that Sam Altman will not return as CEO.
The moves could hamper the company’s ability to move forward after the shock firing.
It also will likely change the course of the artificial intelligence field and embolden a host of rivals—namely Google—that have been seeking to hire OpenAI staff over the last 48 hours.
They add that some OpenAI staff have indicated they would be interested in joining Altman if he started a new AI venture.
Bloomberg’s Ashlee Vance reports that a ‘game of chicken’ was played over the weekend, as OpenAI’s board faced pressure to rehire Sam Altman and Greg Brockman, before turning to Emmett Shear…
… and that Microsoft, a key investor in OpenAI, is not pleased by developments:
So, here's what happened at OpenAI tonight. Mira planned to hire Sam and Greg back. She turned Team Sam over past couple of days. Idea was to force board to fire everyone, which they figured the board would not do. Board went into total silence. Found their own CEO Emmett Shear
— Ashlee Vance (@ashleevance) November 20, 2023
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So, here’s what happened at OpenAI tonight. Mira planned to hire Sam and Greg back. She turned Team Sam over past couple of days. Idea was to force board to fire everyone, which they figured the board would not do. Board went into total silence. Found their own CEO Emmett Shear
— Ashlee Vance (@ashleevance) November 20, 2023
Was game of chicken until the very end. Only constant was board talking to just about no one.
— Ashlee Vance (@ashleevance) November 20, 2023
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Was game of chicken until the very end. Only constant was board talking to just about no one.
— Ashlee Vance (@ashleevance) November 20, 2023
Microsoft is NOT pleased about the outcome. Tomorrow will be an interesting day for stock.
— Ashlee Vance (@ashleevance) November 20, 2023
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Microsoft is NOT pleased about the outcome. Tomorrow will be an interesting day for stock.
— Ashlee Vance (@ashleevance) November 20, 2023
Introduction: OpenAI turns to Emmett Shear to succeed Sam Altman as chief executive
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The question of who will run artificial intelligence pioneer OpenAI is gripping Silicon Valley, after the shock dismissal of CEO Sam Altman on Friday night.
And after a flurry of speculation that Altman will return, it appears OpenAI’s board has selected Emmett Shear, co-founder of video streaming service Twitch, as its interim chief executive.
OpenAI had faced calls from investors to reinstate the ousted Altman.
But Bloomberg reports that Shear, a computer scientist, has got the nod because “he appeared to recognize the existential threats that AI presented”, and has the expertise to lead a large engineering group.
Shear stepped down as chief executive officer of Twitch in March, saying he was now ready to move to the next phase of life, having become a father.
Shear would be OpenAI’s second interim CEO in under a week, as the board had initially appointed chief technology officer Mira Murati as interim CEO on Friday afternoon.
Altman has been regarded as the leading voice in the AI field since his company released ChatGPT in November 2022. But he was stunningly ousted from OpenAI on Friday night, with the board accusing him of “being not consistently candid in his communications”.
i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people.
will have more to say about what’s next later.
🫡
— Sam Altman (@sama) November 17, 2023
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i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people.
will have more to say about what’s next later.
🫡
— Sam Altman (@sama) November 17, 2023
President and co-founder Greg Brockman quit the next day, saying he had been told he was being removed from the board, adding that he continues to “believe in the mission of creating safe AGI that benefits all of humanity.”
After learning today’s news, this is the message I sent to the OpenAI team: https://t.co/NMnG16yFmm pic.twitter.com/8x39P0ejOM
— Greg Brockman (@gdb) November 18, 2023
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By Sunday, rumours were swirling that Murati was looking to rehire Alman and Brockman in some capacity.
Chief Strategy Officer Jason Kwon told staffers in a memo Saturday night that OpenAI is “optimistic” it can bring back Sam Altman, Greg Brockman and other key employees who departed in the wake of Altman’s sudden firing on Friday, C
And there was excitement last night that a deal could be close, after Altman posted a picture of himself wearing an OpenAI visitor badge, writing, “first and last time i ever wear one of these.”
first and last time i ever wear one of these pic.twitter.com/u3iKwyWj0a
— Sam Altman (@sama) November 19, 2023
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But the coup against Altman will not, it seems, be reversed.
OpenAI co-founder Ilya Sutskever has told staff that Shear has a “unique mix of skills, expertise and relationships that will drive OpenAI forward,” according to a memo viewed by The New York Times.
“The board firmly stands by its decision as the only path to advance and defend the mission of OpenAI,” said the memo, referring to Mr. Altman’s ouster on Friday. It was signed by each of the four directors on the company’s board; Adam D’Angelo, Helen Toner, Ilya Sutskever, and…
— Hoàng Maybach 𝝿 💎 (@HoangMaybach) November 20, 2023
","url":"https://twitter.com/HoangMaybach/status/1726478570653176111","id":"1726478570653176111","hasMedia":false,"role":"inline","isThirdPartyTracking":false,"source":"Twitter","elementId":"776cfce9-a175-481e-8419-2451256ebddd"}}” config=”{"renderingTarget":"Web","darkModeAvailable":false}”>
“The board firmly stands by its decision as the only path to advance and defend the mission of OpenAI,” said the memo, referring to Mr. Altman’s ouster on Friday. It was signed by each of the four directors on the company’s board; Adam D’Angelo, Helen Toner, Ilya Sutskever, and…
— Hoàng Maybach 𝝿 💎 (@HoangMaybach) November 20, 2023
But the decision could deepen a crisis precipitated by the board’s sudden ouster of Altman and its removal of President Greg Brockman from the board on Friday, reports tech news site The Information.
The agenda
-
10am GMT: Eurozone construction PMI for September
-
3pm GMT: Conference Board leading economic index on US economy
-
6.45pm GMT: Bank of England governor Andrew Bailey to give 2023 Henry Plumb Memorial Lecture