• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Elon Musk Rejected Cryptocurrency Proposal from OpenAI

user avatar

by Giorgi Kostiuk

a year ago

Tesla CEO Elon Musk rejected OpenAI CEO Sam Altman's proposal to launch a cryptocurrency, citing concerns over the company's reputation.

Altman's ICO Proposal for OpenAI

According to a court filing submitted to the U.S. District Court for the Northern District of California on November 14, Sam Altman suggested an Initial Coin Offering (ICO) for OpenAI to sell its cryptocurrency. The filing described the idea as “scamworthy,” with Musk immediately rejecting it.

It would simply result in a massive loss of credibility for OpenAI and everyone associated with the ICO.Elon Musk

Controversy Over OpenAI's Transformation

The ICO proposal came after another controversial suggestion from Altman and OpenAI President Greg Brockman. In 2017, they urged Musk to transition OpenAI from a nonprofit to a for-profit organization. Musk opposed the idea, warning them to either stick to the nonprofit mission or pursue their own ventures.

Consequences and Musk's Decisions

Musk had also threatened to stop funding OpenAI unless the team committed to remaining a nonprofit. Despite this, Altman and Brockman allegedly began working on a plan to restructure OpenAI into a for-profit organization.

Musk's decision to reject Altman's proposal reflects his priority on maintaining OpenAI's reputation and adherence to its original nonprofit mission.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Nordic Investors Reassess US Exposure Amid Geopolitical Tensions

chest

Nordic pension funds are reassessing their investments in US assets due to rising geopolitical risks.

user avatarArif Mukhtar

Dr Altcoin Critiques Pi Network's Progress and Development

chest

Dr Altcoin criticizes Pi Network for its lack of progress and unresolved technical issues, particularly regarding Version 23.

user avatarMaria Gutierrez

Historical Patterns Suggest Potential Market Effects

chest

Experts and analysts note that past changes in exchange rates have led to notable market movements, suggesting that the current update may have similar implications.

user avatarAndrew Smith

NXPC and NFT Exchange Rate Update Sparks Community Interest

chest

The 8th update on the NFTNXPC exchange rate has generated curiosity within the community following a new item addition.

user avatarDavid Robinson

Micron's Investment Aligns with Singapore's High-Tech Industry Goals

chest

Micron Technology's significant investment in Singapore aims to enhance NAND production and aligns with the nation's goal of establishing high-tech industries, including AI.

user avatarJacob Williams

Micron Technology to Invest $24 Billion in Singapore for NAND Production

chest

Micron Technology Inc plans to invest an additional $24 billion in Singapore over the next decade to enhance its NAND manufacturing capabilities amid rising demand for AI.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.