“Less than 48 hours after Sam Altman was fired from OpenAI, Brian Armstrong, the CEO of Coinbase made a post highlighting some of the impact his departure might cause the ChatGPT creator. Armstrong eulogized Sam Altman for taking OpenAI’s valuation to $80 billion, a massive worth he believe the company has just ‘torched” by ousting the tech veteran.“
“Coinbase CEO Suspects Foul Play“
Following the recent accomplishment of OpenAI in reaching a valuation of $86 billion, positioning the AI powerhouse above big names like Stripe and Shein, Coinbase CEO suspects foul play in the decision to remove Altman from the company, deeming it as a potential coup. Coinbase CEO tweeted, accusing the board of torching $80 billion of value, destroying a shining star of American capitalism, and potentially facing lawsuits from investors.
“Altman and Brockman’s “New Thing”“
Armstrong expressed his belief that Altman and Brockman may establish a new venture, especially after Brockman’s announcement of his continued dedication to creating safe artificial general intelligence. Charles Hoskinson has offered Altman the opportunity to explore a decentralized LLM, aiming to sidestep regulations and maintain founder control. Furthermore, Armstrong warned of the potential negative impact on the company’s valuation as a result of the unjustified action, drawing parallels to previous situations involving Google and some crypto companies.
“Hot Take: The Fallout of Altman’s Departure from OpenAI“
The departure of Sam Altman from OpenAI has sparked controversy and speculation, with Coinbase CEO Brian Armstrong suspecting foul play and anticipating a potential decline in the company’s value. The possibility of Altman and co-founder Greg Brockman establishing a new venture has been suggested, with implications for the future of OpenAI and the broader AI industry. The situation highlights the intersection of technology, entrepreneurship, and governance, and the potential ripple effects on the AI and crypto sectors.
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