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How OpenAI so royally screwed up the Sam Altman firing and joining Microsoft
Read more: How OpenAI so royally screwed up the Sam Altman firing and joining Microsofthttps://edition.cnn.com/2023/11/19/tech/sam-altman-open-ai-firing-board/index.html
https://www.cnn.com/2023/11/18/tech/openai-sam-altman-shakeup-what-happened/index.html
https://edition.cnn.com/2023/11/20/tech/sam-altman-joins-microsoft/index.html
A company’s board of directors has an obligation, first and foremost, to its shareholders. OpenAI’s most important shareholder is Microsoft, the company that gave Altman & Co. $13 billion to help Bing, Office, Windows and Azure leapfrog Google and stay ahead of Amazon, IBM and other AI wannabes.
So a day later, the board reportedly asked for a mulligan and tried to woo Altman back. It was a shocking turn of events and an embarrassing self-own by a company that its widely regarded as the most promising producer of the most exciting new technology.
The board angered a powerful ally and could be forever changed because of the way it handled Altman’s ouster. It could end up with Altman back at the helm, a for-profit company on its nonprofit board – and a massive culture shift at OpenAI.
https://www.bbc.com/news/technology-67474879
But Microsoft, OpenAI’s biggest investor, has decided not to take a chance on Mr Altman taking this tech elsewhere. He will be joining the Seattle-based tech giant, it has been announced, to lead a yet-to-be-created AI research team. His co-founder Greg Brockman goes with him, and judging from the number of staff members posting on X today, it looks like he’ll be taking some of OpenAI’s top talent too.
Many OpenAI staff members are sharing the same post on X. It reads: “OpenAI is nothing without its people”.
Is that a warning to Mr Shear that he might have some hiring to do? A BBC colleague outside OpenAI’s headquarters just told me at 0930 in San Francisco, there were no signs of people arriving for work.
https://edition.cnn.com/2023/11/20/tech/openai-employees-quit-mira-murati-sam-altman/index.html
“Your actions have made it obvious that you are incapable of overseeing OpenAI,” wrote the employees. “We are unable to work for or with people that lack competence, judgement and care for our mission and employees.”
The employees also warned that they would “imminently” follow Altman to Microsoft unless the board resigns and reinstates Altman and Greg Brockman, the former OpenAI president who was also removed by the board on Friday.
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Jellyfish Pictures suspends operations
Read more: Jellyfish Pictures suspends operationshttps://www.broadcastnow.co.uk/post-and-vfx/jellyfish-pictures-suspends-operations/5202847.article
According to a report in Indian news outlet, Animation Xpress, Jellyfish is facing financial struggles and has temporarily suspended its global operations.
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(2017) Digital Domain Holdings Reports $64 Million in Losses
Read more: (2017) Digital Domain Holdings Reports $64 Million in Losseshttp://variety.com/2017/biz/asia/losses-at-digital-domain-holdings-double-1202020056/
Digital Domain Holdings, the Hong Kong-based visual effects and virtual reality group, saw losses in 2016 more than double to $64.3 million.
The core Digital Domain 3.0 business provided VFX for films including “Beauty and the Beast,” “Deadpool” and “X-Men: Apocalypse” during the year.
Revenues across the group increased 45% from $68 million (HK$527 million) in 2015 to $98.5 million (HK$763 million) last year. Net losses, which totaled $23.1 million (HK$179 million) in 2015, reached $64.3 million (HK$498 million) in 2016.
The company pointed to content development and research and development costs for virtual reality content and games, 360° and virtual humans, and a more than fourfold increase in amortization of intangible assets, as causes of the financial pain.
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