Comment by zuhayeer

3 years ago

Instead of traditional equity, OpenAI issues PPUs which represent a share of the profits. More details on how it works here: https://www.levels.fyi/blog/openai-compensation.html

6 comments

zuhayeer

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almost_usual  3 years ago

> It’s important to reiterate that the PPUs inherently are not redeemable for value if OpenAI does not turn a profit. That said, there are investors that have been willing to pay for these PPUs and that’s where the value being told to candidates is derived from.

> In conversations with recruiters we’ve heard from some candidates that OpenAI is communicating that they don’t expect to turn a profit until they reach their mission of Artificial General Intelligence (AGI). As with any startup, there are risks associated with equity and it’s important to consider the possibility that equity can be worth nothing.

This is weird. They don’t expect to be profitable until AGI exists? Does the monetary system we have today even matter at that point?

  • wmf  3 years ago

    If OpenAI has a monopoly on AGI within the current neoliberal capitalist framework they'll make trillions before the system collapses. It's like Aramco but bigger.