Why OpenAI CEO Refuses Equity

This is Synthetic Mind, your A.I newsletter here to help you lasso in the latest news from the wild wild west of A.I

Its Wednesday. Dont stop now:

  • Why OpenAI CEO Refuses Equity

  • How A.I Will Get You Your Dream Job

  • Amazon's $100 Million A.I Bet

  • Wednesday Winnings

Read Time: 4 min 42 sec

Why OpenAI CEO Refuses Equity

A few weeks back the CEO of OpenAI (Sam Altman) went to court, to talk about A.I regulation and the future of A.I.

But near the end, Sam Altman dropped a bombshell that most missed

Altman announced that he owns ZERO equity in OpenAI.

Altman says he refuses to take equity because he wants to keep OpenAI ethical, and that he does it because he loves it.

In his mind, if he makes money with OpenAI products, he will start to make decisions that are good for him but not good for humanity.

You know like unleashing a super advanced A.I without any training because it makes good sales.

But a few days later Altman let slip the other reason why he doesnt take equity in OpenAI

Altman believes that A.I will take over the labor force and cut labor costs in half. As a result, money will mean nothing in the future.

He saysIt sounds utopian匈magine a world where, for decades, everything housing, education, food, clothing, etc. became half as expensive every two years.

Personally, I disagree with this one.

Weve had game-changing tech introduced into the labor market already, and prices are not going down. Think: Electricity, assembly lines, computer automation, etc.

Robots may cut labor costs, but lower labor costs do not mean lower selling prices.

How A.I Will Get You Your Dream Job

As of 2022, 79% of employers use A.I / A.I automation when hiring new employees.

Companies are using A.I to:

  • Analyze video interviews for body language, eye contact, and certain physical features

  • To eliminate applications by crossing off people with spelling errors, slang, etc.

  • To look for specific keywords in resumes to find what theyre looking for in applicants

In all fairness, this was to be expected. Its faster, easier, and cheaper for companies.

But dont forget, you can also use A.I when applying for your dream job.

Weve created a guide showing you how to use A.I to find the perfect job for you, write your resume, and prepare for the job interview.

Just click the Access Now button below!

PS - at the end of this edition we posted 3 jobs hiring right now!

Amazon's $100 Million A.I Bet

Despite its size, Amazon is lagging behind in this A.I Race BIG time.

Amazon has started adding small A.I features to their platform like A.I generated product descriptions..

But Amazons running into a problem - A.I chips have gone MIA.

No A.I chips = No A.I products

So Amazon has a choice

They can either fall behind other tech giants OR partner with an A.I startup like Microsoft did with OpenAI.

Amazon didnt like either of these options and decided to try something risky

Amazon is investing $100 Million into customer projects working on generative A.I in their Amazon Web Services.

(For those of you who are new here, generative A.I is a type of A.I tool that creates content like images, texts, videos, music, etc)

Amazon claims they want to accelerate enterprise innovation and success with generative A.I.

Thats code for we want to be the best generative A.I platform so everyone has to come to us for A.I software

We think Amazon plans to start their own A.I software store (kinda like what OpenAI plans to do which we covered last week).

Think about it

Amazon already sells computer software, meaning they already have the platform and systems for an A.I store.

Plus, it solves their A.I chip problem - they just have to fund the people that already have them.

Is it risky? Absolutely.

But what other option does Amazon have?

Have a business or something you want to promote in front of 50,000+ readers?

Click the button below to apply now!

Wednesday Winnings

Here are a few jobs hiring right now in the A.I space to check out!

Runway: Customer Support Manager ($90,000-$120,000)

  • Lead, hire, and grow their support team

  • Need 1+ year in a support manager or team lead role

Inflection AI: Growth Marketing Manager ($150,000 - $300,000)

  • Use marketing to drive growth in their new tech startups

  • Understand how to successfully grow consumer products on web and mobile

KIRA LEARNING - A.I Engineer ($160k-200k)

  • Write programs using AI to improve student learning experience

  • Bachelors or Masters degree in Computer Science, or equivalent experience

Todays Winning Review

How creative are you? We post our favorite review every edition - good or bad. Leave yours in the poll below!

What'd you think of today's edition?

Login or Subscribe to participate in polls.

Love us? Spread the word! Hate us? Spread the word!

Join the conversation

or to participate.