A takeaway for other founders: control matters.
A founder's narrative control can wane too if board members disagree with a founder's vision.
AdvertisementAltman did not, in practice, start with much control at OpenAI, despite being its CEO and, prior to the blowup, a board member.
"A lot of VCs still act as if founders retaining board control after a series A is unheard-of.
OpenAI's version of founder control doesn't necessarily look like others: its CEO apparently doesn't hold the majority of stock.
Persons:
Sam Altman, Paul Graham, —, Altman, Altman's, Helen Toner, Toner, Y, Graham's, Graham, aren't, Mark Zuckerberg, Bret Taylor, Larry Summers
Organizations:
Service, Microsoft
Locations:
OpenAI