TechPression

Tag: Sam Altman

  • Sam Altman resigns at OpenAI Startup Fund

    Sam Altman resigns at OpenAI Startup Fund

    Sam Altman resigns as the man in charge of the OpenAI Startup Fund. This news is making waves in the world of investments. Altman used to be in charge of the fund, but now Ian Hathaway is in charge.

    At first glance, it might look like the OpenAI board and Sam Altman have another argument. Reports say it’s more about fixing the starting structure of the general partner (GP) of the fund.

    What does this change mean for OpenAI’s plan to spend, though?

    Read also: OpenAI achieves $2Billion revenue milestone

    Hathaway in, Altman out

    In the March 29 filing, it was described that Sam Altman was removed as the owner of the OpenAI Startup Fund. It represents a change in the organisation’s funding strategy. It was Altman who was in charge of running the fund before. Notably, his removal shows a change in the fund’s focus or direction.

    The OpenAI Startup Fund is actively investing in potential businesses. It has $175 million in funding from partners like Microsoft. Importantly, OpenAI helps make the fund possible, but it doesn’t invest directly in it.

    It’s possible that this change was made to improve transparency and make the fund’s management structure work better. OpenAI wants to bring in new leadership and experience to move the fund forward by hiring Ian Hathaway, who has a track record in venture capital.

    Also, Altman’s decision to leave as the fund’s owner shows that OpenAI is serious about making its core operations and outside financial activities very clear. Altman is still an essential part of the organisation, but giving up ownership of the startup fund shows that he wants to reduce operations and align them more with OpenAI’s overall strategic goals.

    Overall, this change marks the beginning of a more mature period for OpenAI’s investment arm, one that emphasises speed, openness, and strategic alignment. It shows that the organisation is flexible and ready to change how it does things to be successful in the long term in the fast-paced world of startup funding.

    Read also: OpenAI launches ChatGPT enterprise package 

    Who is Ian Hathaway?

    As Co-Founder and General Partner of Far Out Ventures, Ian Hathaway is a well-known name in start-up capital. With experience in startups, new ideas, and making policy, Hathaway has impacted the field.

    Hathaway has held leadership roles in capital analytics and advisory roles at Techstars, where he worked with companies, including Index Ventures. He co-wrote “The Startup Community Way,” demonstrating his knowledge of the larger startup ecosystem. Notable journals have published Hathaway’s observations, and he is a well-known global investor and mentor.

    Hathaway’s participation in OpenAI’s venture fund, given his wide range of experience, indicates the company’s dedication to innovative and strategic investing. His experience will probably be significant in determining the direction of OpenAI’s upcoming projects and alliances within the startup community.

  • Sam Altman, CEO of OpenAI, ChatGPT visits Lagos, Nigeria

    Sam Altman, CEO of OpenAI, ChatGPT visits Lagos, Nigeria

    Sam Altman was present at an invitation-only OpenAI event that took place in the Muson Centre in Lagos, Nigeria, on May 19, 2023.

    The event was attended by a number of entrepreneurs, investors, and executives working in the technology industry.

    The event consisted of two parts: a question and answer period and a chance to talk to Altman in person.

    Because he is scheduled to leave for Europe on the same day as the event, it is possible that Altman will not make another stop in Africa after his visit to Nigeria. Another reliable source divulged the information that the organisation is now looking for software engineers in the country.

    Olusola Ayoola of RAIN Technologies said that Altman is here to explore how OpenAI can satisfy our needs in Nigeria. While the firm has not officially shared the reason for Altman’s visit, the company has said that the company has not officially shared the reason for Altman’s visit. The unjust remuneration and subsequent layoff of Kenyan workers in order to perfect ChatGPT is one of the OpenAI scandals that has received the greatest attention on the African continent.

    It is possible that OpenAI wants to improve its public relations in the continent for good.

    On the other hand, it will have its job cut out for it because another IT giant, Meta, has been engaged in a legal battle on the continent for a number of months.

    It has been revealed that workers were subjected to cruel working circumstances through one of Meta’s contractors called Sama. This is another issue that Meta is dealing with in Africa that is related to labour.

    Read  also: ChatGPT Will Eliminate Jobs, OpenAI CEO Warns

    There is also the possibility that OpenAI would travel to Africa in order to extend its operations in the region. 

    Quite a few different platforms, including Salesforce, Air India, and Duolingo, have integrated with ChatGPT. On the other hand, we haven’t noticed very many African platforms engaging in the same activity.

    OpenAI may attempt to develop collaborations with other platforms that might benefit from connecting with its application programming interface (API).

    This involves securing a position in Africa as the firm of choice for customers that require AI services.

    The excursions to Africa made by other large technology businesses in the past were always driven by a desire to increase profitability; however, the underlying motive behind the AI company’s visit to Africa is still unknown.

     

    Statement from a Co-founder of Incash

    One of the attendants, Sudhanshu Gaurav, Co-founder of Incash said, “It was a great event. Looking forward to integrating AI into our startup and cannot wait to see how it makes a huge difference to the African Tech space in the next few years.”

    About OpenAL

    Open Audio Library, more often known as OpenAL, is an application programming interface (API) for audio that was initially developed in the year 2000 by Loki Software. OpenAL is available for several operating systems. When rendering multi-channel, positional audio in 3D, OpenAL is the library of choice. The application programming interface (API) of OpenAL has a lot of similarities to that of OpenGL.

    OpenAL was also developed with the intention of substituting for other proprietary 3D audio systems, such as EAX and A3D. Additionally, it is able to simulate attenuation, the Doppler effect, and material densities, all of which contribute to an increased sense of realism in video games.

    Despite the fact that its name includes the term “Open,” OpenAL is not an open source project.