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- 🤖 Why OpenAI CEO Refuses Equity
🤖 Why OpenAI CEO Refuses Equity
Profit Snack
June 28, 2023
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
It’s Wednesday. Don’t 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 doesn’t 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 says “It sounds utopian…Imagine a world where, for decades, everything – housing, education, food, clothing, etc.– became half as expensive every two years.”
Personally, I disagree with this one.
We’ve 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:
In all fairness, this was to be expected. It’s faster, easier, and cheaper for companies.
But don’t forget, you can also use A.I when applying for your dream job.
We’ve 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 Amazon’s 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 didn’t 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.”
That’s 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?
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💼 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
Bachelor’s or Master’s degree in Computer Science, or equivalent experience
👏 Today’s Winning Review
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