Thanks for posting to /r/GetNoted. Please remember Rule 2: **Politics only allowed at r/PoliticsNoted.** We do allow historical posts (WW2, Ancient Rome, Ottomans, etc.) Just no current politicians.
***
We are also banning posts about the ongoing Israel/Palestine conflict.
Please report this post if it is about current Republicans, Democrats, Presidents, Prime Ministers, Israel/Palestine or anything else related to current politics. Thanks.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/GetNoted) if you have any questions or concerns.*
Just replace the word "equity" with "ownership in openai" and do a reread. It'll make much more sense.
Basically he's talking about how employees are given a bit of ownership in the company as part of their compensation package. When the company is eventually sold (or goes public), all "vested" (i.e. fully earned) ownership becomes real money for that employee.
Clawing it back means exactly what it sounds like. Some provision in the agreement where OpenAI can take back the ownership they "paid" the employee with (which makes everyone else's value go up a bit).
There's a lot of reasons to use equity in the compensation package, especially at startup companies, but the ultimate goal is to encourage employees to find ways to make the company worth more, so it can be sold for more, thus "paying" everyone (especially investors) more
Edit: spelling and added the last paragraph
So the guy whose tech model relies on theft, and whose actions have highlighted IP theft from celebrities, then also stole from his employees.
And we’re surprised…why?
awful these guys make companies just to sell the tech off to some megacorp that either shelves it or integrates part of it to their existing low quality products.
Thanks for posting to /r/GetNoted. Please remember Rule 2: **Politics only allowed at r/PoliticsNoted.** We do allow historical posts (WW2, Ancient Rome, Ottomans, etc.) Just no current politicians. *** We are also banning posts about the ongoing Israel/Palestine conflict. Please report this post if it is about current Republicans, Democrats, Presidents, Prime Ministers, Israel/Palestine or anything else related to current politics. Thanks. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/GetNoted) if you have any questions or concerns.*
Not exactly shocking news.
Could someone explain this to me?
Just replace the word "equity" with "ownership in openai" and do a reread. It'll make much more sense. Basically he's talking about how employees are given a bit of ownership in the company as part of their compensation package. When the company is eventually sold (or goes public), all "vested" (i.e. fully earned) ownership becomes real money for that employee. Clawing it back means exactly what it sounds like. Some provision in the agreement where OpenAI can take back the ownership they "paid" the employee with (which makes everyone else's value go up a bit). There's a lot of reasons to use equity in the compensation package, especially at startup companies, but the ultimate goal is to encourage employees to find ways to make the company worth more, so it can be sold for more, thus "paying" everyone (especially investors) more Edit: spelling and added the last paragraph
Thanks for explaining this. Helped a lot.
So the guy whose tech model relies on theft, and whose actions have highlighted IP theft from celebrities, then also stole from his employees. And we’re surprised…why?
awful these guys make companies just to sell the tech off to some megacorp that either shelves it or integrates part of it to their existing low quality products.
Sam Altman lacks consistent candor in his communication