DIRS.INFO The most relevant business & tech news

Spokespeople for the banks declined to provide comment ahead of the hearing or did not respond to requests for comment. Kevin Fromer, president of the Financial Services Forum, which represents the CEOs, said he expected Basel to be a focus. Big bank CEOs have been appearing before Congress for several years after the 2007-09 financial crisis and subsequent scandals thrust the industry into Washington's crosshairs. Former Wells Fargo CEO Tim Sloan, meanwhile, resigned in March 2019 after stumbling during a hearing about the bank's regulatory woes. But after years of playing defense, the CEOs are expected to be more assertive, this time backed by Republicans critical of red tape.

Persons: Andy Cecere, William Demchak, Jamie Dimon, Jane Fraser ,, Brian Moynihan, William Rogers, Wells, Bank of America's Brian Moynihan, Citi's Jane Fraser, Wells Fargo's Charles Scharf, Goldman Sachs, David Solomon, Morgan Stanley's James Gorman, Ronald O'Hanley, BNY Mellon's Robin Vince, Sherrod Brown, Brown, Kevin Fromer, Dimon, Elizabeth Warren, Tim Sloan, meanwhile, Tim Scott, Pete Schroeder, Nupur Anand, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Michelle Price, Nick Zieminski Organizations: U.S . Bancorp, PNC Financial Services Group, JPMorgan Chase, Co, Citigroup, Jane Fraser , Bank of America, Truist Financial, JPMorgan, Bank of America, Bank of America's, Democratic, Silicon Valley Bank, Financial Services, Big, Former Wells, Republicans, Thomson Locations: WASHINGTON, Wells Fargo, Silicon, Basel, New York

One of the people said the Justice Department case accuses Rocha of working to promote the Cuban government’s interests. The Justice Department declined to comment. It was not immediately clear if Rocha had a lawyer and a law firm where he previously worked said it was not representing him. Following his retirement from the State Department, Rocha began a second career in business, serving as the president of a gold mine in the Dominican Republic partly owned by Canada’s Barrick Gold. Foley & Lardner said Rocha left the law firm in August.

Persons: —, Manuel Rocha, Rocha, Fidel Castro’s, Evo Morales, “, ″ Rocha, Morales, Rocha’s, ” Rocha, Karla Wittkop Rocha, ”, Canada’s Barrick, he’s, Foley, Lardner, ” Dario Alvarez, ____ Tucker Organizations: MIAMI, Associated Press, Justice Department, AP, Democratic, Republican, Yale, Harvard, Georgetown, Bolivian, National Security Council, State Department, Canada’s, Clover Leaf, Llorente, Cuenca’s Locations: American, Bolivia, Miami, Cuban, America, Cuba, U.S, Colombia, New York City, Argentina, Washington, United States, Italy, Honduras, Mexico, Dominican Republic, Pennsylvania, Spanish, Cuenca, “, Investigative@ap.org

☆ Venezuelans to vote in referendum on disputed territory with Guyana
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +3 min

[1/4] Venezuela's President Nicolas Maduro shows his ballot during a referendum over Venezuela's rights to the potentially oil-rich region of Esequiba in Guyana, in Caracas, Venezuela, December 3, 2023. REUTERS/Leonardo Fernandez Viloria Acquire Licensing RightsCARACAS/GEORGETOWN, Dec 3 (Reuters) - Venezuelans will vote on Sunday in a referendum backed by President Nicolas Maduro's government over a potentially oil-rich territory that is the subject of a long-running border dispute with Guyana. The five-question referendum includes a question rejecting International Court of Justice (ICJ) jurisdiction to decide to which country the territory around the Esequibo river belongs. On Friday, the court responded to a request from Guyana to halt the referendum, ordering Venezuela to refrain from taking any action that would alter the status quo, without expressly forbidding the vote. The Sunday vote has caused anxiety in Guyana, with the government urging citizens to keep calm.

Persons: Nicolas Maduro, Leonardo Fernandez Viloria, Nicolas Maduro's, Maduro, Ricardo Sucre, Benigno Alarcon, Andres, Rocio San, Kim Rampersaud, Vivian Sequera, Julia Symmes Cobb, Will Dunham Organizations: REUTERS, Rights, of Justice, Central University of Venezuela, Center for Political Studies, Andres Bello Catholic University, Kiana, Thomson Locations: Esequiba, Guyana, Caracas, Venezuela, Rights CARACAS, GEORGETOWN, Sucre, Rocio San Miguel, Georgetown, Brazil

☆ We now have more details on what the heck happened at OpenAI
▼ + stars: | 2023-12-01 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

A new report described in more detail why the OpenAI board initially pushed out Sam Altman. Altman reportedly tried to get a board member, Helen Toner, kicked out, but it backfired. The report cited an unnamed source who said Altman tried to play board members against each other. Here's what the outlet wrote in part (emphasis added):Some members of the OpenAI board had found Altman an unnervingly slippery operator. Read here: The Inside Story of Microsoft's Partnership With OpenAI (The New Yorker)

Persons: Sam Altman, Altman, Helen Toner, —, Sam Altman —, Kevin Scott, Mira Murati, he'd, OpenAI, Toner Organizations: Service, Yorker, Microsoft, New York Times, Center for Security, Emerging Technology, Georgetown University, Microsoft's Locations: Turkey, New, Yorker

☆ A Venezuelan vote on an oil-rich region of Guyana raises concerns of a South American military conflict
▼ + stars: | 2023-12-01 | by ( David Shortell | ) edition.cnn.com time to read: +9 min

The area in question, the densely forested Essequibo region, amounts to about two-thirds of Guyana’s national territory and is roughly the size of Florida. The recent discovery of vast offshore oil fields in the region has heightened the stakes of the dispute. Venezuelans in Caracas take part in a rally during the closing of the campaign for the Essequibo referendum, on December 1. It owns the congress of Guyana,” Maduro told supporters last week. Matias Delacroix/APOn Wednesday, Brazil announced that it was increasing its military presence with “defensive actions” along its northern border with Venezuela and Guyana.

Persons: Nicolas Maduro, Miguel Gutierrez, Shutterstock, Robert Persaud, Venezuela doesn’t, Matias Delacroix, ” Maduro, Maria Corina Machado, Maduro, ”, Phil Gunson, Irfaan Ali, Paul J, Angelo, Wazim Mowla, Adrienne Arsht, Vladmir Putin’s, Bharrat Jagdeo, “, ” Jagdeo, ” Gunson Organizations: CNN, Quarterly, Court of Justice, UN, International Court of Justice, ExxonMobil, AP, International Crisis, Venezuelan, Foreign Relations, Caribbean Initiative, Atlantic, America, Crisis Locations: Guyana, Essequibo, Florida, Venezuela, British, Venezuelan, Caracas, Ukraine, Guyanese, The Hague, Guyana's, Paris, Guiana, Georgetown, AP Venezuela, ”, Demerara, Brazil, Crimea, that’s

☆ World Court orders Venezuela to refrain from action in border dispute with Guyana
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

The court did not expressly forbid Venezuela to hold a planned Dec. 3 referendum over its rights to the region around the Esequibo river, the subject of the long-running border dispute, as Guyana has requested. However, judges at the International Court of Justice - as the World Court is formally known - made clear that any concrete action to alter the status quo should be stopped. "The court observes that the situation that currently prevails in the territory in dispute is that Guyana administers and exercises control over that area," presiding judge Joan Donoghue said. "Venezuela must refrain from taking any action which would modify that situation," she added. Venezuela reactivated its claim over the area in recent years after the discovery of offshore oil and gas.

Persons: Joan Donoghue, Nicolas Maduro, Irfaan Ali, Stephanie van den Berg, Bart Meijer, Kiana Wilburg, Alex Richardson Organizations: HAGUE, International Court of Justice, Thomson Locations: Essequibo, Esequiba, Guyana, Caracas, Venezuela, Georgetown

☆ A former OpenAI board member says Sam Altman's firing wasn't 'motivated by a desire to slow down OpenAI's work'
▼ + stars: | 2023-11-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Former OpenAI board member Helen Toner has announced her resignation. Toner said that the board wasn't trying to slow down OpenAI's work by firing CEO Sam Altman. AdvertisementFormer OpenAI board member Helen Toner says the board wasn't trying to stifle the company's progress by removing CEO Sam Altman. Though there has been speculation, we were not motivated by a desire to slow down OpenAI’s work. AdvertisementAside from bringing back Altman, OpenAI welcomed a new initial board comprising Bret Taylor, Larry Summers, and Adam D'Angelo.

Persons: Helen Toner, Toner, Sam Altman, Altman, —, wasn't, OpenAI, Bret Taylor, Larry Summers, Adam D'Angelo, Taylor, Tasha McCauley, Ilya Sutskever . Organizations: Service, Georgetown University's Center for Security, Emerging Technology, Microsoft, Business Insider Locations: OpenAI's

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 29 (Reuters) - Microsoft will take a non-voting, observer position on OpenAI's board, CEO Sam Altman said in his first official missive after taking back the reins of the company on Wednesday. The observer position means Microsoft's representative can attend OpenAI's board meetings and access confidential information, but it does not have voting rights on matters including electing or choosing directors. The new OpenAI board is on an active search for six new members with expertise in fields from technology to safety and policy. OpenAI's chief scientist Ilya Sutskever will no longer be part of the board, Altman said. Apart from Altman, Brockman, Sutskever, D'Angelo, OpenAI's previous board consisted of entrepreneur Tasha McCauley, Helen Toner, director of strategy at Georgetown's Center for Security and Emerging Technology.

Persons: Dado Ruvic, Sam Altman, Satya Nadella, Altman, OpenAI, Bret Taylor, Larry Summers, Adam D'Angelo, Mira Murati, Greg Brockman, Greg, Ilya Sutskever, Sutskever, Ilya, Brockman, D'Angelo, OpenAI's, Tasha McCauley, Helen Toner, Akanksha, Krystal Hu, Sayantani Ghosh, Stephen Coates Organizations: REUTERS, Microsoft, U.S . Treasury, Reuters, Georgetown's Center for Security, Emerging Technology, Thomson Locations: OpenAI, Bengaluru, New York, San Francisco

☆ With tipping, wages are 'shifted onto the customer'—here's why we do that in the U.S.
▼ + stars: | 2023-11-30 | by ( Gili Malinsky | ) www.cnbc.com time to read: +5 min

While many industries have adopted the practice, tipping is most entrenched in the restaurant industry, where workers rely on gratuities to make up much of their wages. Here's how tipping came to America in the first place, and how it became institutionalized in food services, specifically. But the company that "really institutionalized" tipping, Zagor says, was the Pullman Company, which built and operated railroad cars. But when restaurants were added in 1966, they weren't covered under the typical minimum wage as other industries ultimately were. 'The whole thing is shifted onto the customer'These days, tipping is deeply embedded in the restaurant industry.

Persons: Kerry Segrave's, Stephen Zagor, Zagor, Franklin D, Roosevelt, what's, Harry Holzer, Jena Ellenwood Organizations: Columbia Business School, Employers, Pullman Company, Pullman, Library of Congress, Workers, Companies, Labor, Georgetown University, Brookings Locations: America, Europe, U.S

☆ The hidden expense that's sucking $74 billion out of the economy
▼ + stars: | 2023-11-30 | by ( Bartie Scott | ) www.businessinsider.com time to read: +14 min

They said rising costs kept the board from expanding amenities residents wanted, such as a shared composting system. jhorrocks/Getty ImagesRising price for peace of mindIn the constellation of household costs, insurance is often one of the lesser-noticed line items. But recently the rising cost of repairs and the frequency of damaging weather events have made the deal go sour. Rising insurance costs could inflict more pain on another bruised area of the economy: housing affordability. For this reason, insurance companies could decline to cover them or require costly upgrades before agreeing to a policy.

Persons: that'd, Mark Pauly, Tim Quinlan, you'll, Quinlan, it's, Francesco D'Acunto, D'Acunto, Pauly, they've, Nature, John Coletti, That's, Bartie Scott Organizations: Insurance, Research, Bank of America, Global, American, Casualty Insurance Association, University of Pennsylvania's Wharton School of Business, Insurance Information Institute, Georgetown University's McDonough School of Business, Social Security, National Flood Insurance, Business Insider's Locations: Logan, Chicago, Florida, Wells Fargo, California

☆ How Qatar swayed Israel and Hamas to make a truce work
▼ + stars: | 2023-11-30 | by ( Andrew Mills | ) www.reuters.com time to read: +10 min

It was necessary to clarify all the points in the agreement and make sure they meant the same thing to Israel and Hamas, a source briefed on the negotiations said. Qatar's foreign ministry told reporters that Hamas and Israel negotiated in Doha until "the early morning" of Nov. 23 and agreed on a plan to implement the truce deal the next day. Qatari negotiators shepherded Israel and Hamas to agree on exactly where in Gaza Israeli tanks would be stationed during the truce. Israel vets all financial transfers Qatar makes to Palestinians in Gaza, Qatari sources have said. Despite proximity to Hamas officials, Qatari negotiators did not speak directly to the group's leaders in Gaza, but through its representatives based in Doha.

Persons: Qatar’s, Abdullah Al Sulaiti, Imad Creidi, Qatar's, Sheikh Mohammed bin Abdulrahman Al Thani, Sheikh Mohammed, David Barnea, Israel, Benjamin Netanyahu, Netanyahu, shepherded Israel, Al Shifa, Emir Sheikh Tamim bin Hamad Al Thani, Joe Biden, Sheikh Tamim, Mehran Kamrava, We've, Al Sulaiti, I've, Ahmed Mohamed Hassan, Matt S, Dan Williams, David Gauthier, Frank Jack Daniel Organizations: Hamas, National Command Centre, REUTERS, Rights DOHA, Qatari, Qatar's Ministry of Foreign Affairs, U.S . Department of State, U.S, Gaza, Bild, Palestinian, Georgetown University, Thomson Locations: Israel, Palestinian, Doha, Qatar, Palestinian Territories, Egypt, Gaza, Moscow, London, Hamas, U.S, Russia, Gulf, Berlin, Syria, Qatari, Cairo, Washington, Jerusalem

☆ UAW aims to organize 13 nonunion automakers
▼ + stars: | 2023-11-29 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —The United Auto Workers union says it has started an effort to organize workers at 13 non-union automakers with US factories. The union said there are about 150,000 employees at 36 nonunion auto plants operated by the companies it is targeting in this campaign. That is slightly more than the union’s representation at the three unionized automakers, which have about 145,000 UAW members between them. But if a union organizing campaign is successful, the union will be made up of workers from the company. The union has filed complaints accusing many of the automakers of unfair labor practices during those earlier organizing efforts.

Persons: Jeff Allen, “ We’ve, ”, Allen, we’ve, “, Shawn Fain, ” Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, US, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volkswagen, Volvo, Toyota Camry, Lexus, UAW, Workers, Tesla Locations: New York, Georgetown , Kentucky, America, Volkswagen’s, Chattanooga , Tennessee, Canton , Mississippi, Smyrna , Tennessee

☆ UAW launches union campaigns at Tesla, 12 other automakers in the U.S.
▼ + stars: | 2023-11-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The United Auto Workers union is launching an unprecedented campaign to organize 13 non-union automakers in the U.S. after securing record contracts with the Detroit automakers. As part of the campaign workers are signing electronic cards in support of union efforts to potentially organize U.S. plants from those automakers. It is not guaranteed that the union would push to organize every plant or automaker that participates in the campaign. UAW President Shawn Fain has said the union's next mission after ratifying record contracts with General Motors, Ford Motor and Stellantis was to expand its ranks. Still, the UAW has a poor track record with trying to organize non-Detroit automakers.

Persons: Shawn Fain, Fain, —, Stellantis Organizations: United Auto Workers, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Nissan, Subaru, Toyota, Volkswagen, Volvo, UAW, General Motors, Ford Motor, Detroit, Ford, GM, Lexus, " Workers Locations: U.S, Fremont, California, Georgetown , Kentucky

DETROIT (AP) — Less than two weeks after ratifying new contracts with Detroit automakers, the United Auto Workers union announced plans Wednesday to try to simultaneously organize workers at more than a dozen nonunion auto factories. The UAW says the drive will cover nearly 150,000 workers at factories largely in the South, where the union has had little success in recruiting new members. Also on the union's list are U.S. factories run by electric vehicle sales leader Tesla, as well as EV startups Rivian and Lucid. “You don’t have to live paycheck to paycheck,” union President Shawn Fain said in a statement appealing to nonunion workers. At the end of the contract top-scale assembly workers will make about $42 per hour, plus they’ll get annual profit-sharing checks.

Persons: Tesla, Shawn Fain Organizations: DETROIT, Detroit automakers, United Auto Workers, UAW, Toyota, Honda, Hyundai, Nissan, Subaru, Mazda, Volkswagen, Mercedes, BMW, Volvo, Ford, General Motors Locations: Georgetown , Kentucky

☆ UAW launches bid to organize Tesla and 'entire non-union auto sector'
▼ + stars: | 2023-11-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Shawn Fain, president of the United Auto Workers (UAW) speaks as U.S. President Joe Biden (not pictured) joins striking members of the United Auto Workers (UAW) on the picket line outside GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector after winning new contracts with the Detroit Three automakers. "To all the auto workers out there working without the benefits of a union, now it's your turn," UAW President Shawn Fain said in a video posted on a website urging auto workers to sign electronic cards seeking union representation. "I want this type of contract for all auto workers and I have a feeling the UAW has a plan for that," he said at an event with Fain. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers.

Persons: Shawn Fain, Joe Biden, Evelyn Hockstein, Fain, Tesla, Elon Musk, David Shepardson, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three automakers, Tesla, Toyota, Volkswagen, Hyundai, Nissan, BMW, Mercedes, Benz, Detroit, General Motors, Ford Motor, Detroit Three, Lexus ES, Union, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Detroit, Mississippi, Tennessee, Chattanooga , Tennessee, Georgetown , Kentucky, Washington

☆ UAW launches bid to organize Tesla and 'entire non-union auto sector' in US
▼ + stars: | 2023-11-29 | by ( David Shepardson | ) www.reuters.com time to read: +6 min

Shawn Fain, president of the United Auto Workers (UAW) speaks as U.S. President Joe Biden (not pictured) joins striking members of the United Auto Workers (UAW) on the picket line outside GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. "To all the auto workers out there working without the benefits of a union, now it's your turn," UAW President Shawn Fain said in a video posted on a website urging auto workers to sign electronic cards seeking union representation. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers. The website asks Tesla workers to join, saying CEO "Elon Musk is the richest man in the world, with a net worth of $230 billion. The question is, will Tesla workers get their fair share?"

Persons: Shawn Fain, Joe Biden, Evelyn Hockstein, Fain, Elon Musk, Tesla, Harley Shaiken, David Shepardson, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three automakers, Tesla, Toyota, Volkswagen, Hyundai, Nissan, BMW, Mercedes, Benz, Detroit, General Motors, Ford Motor, New York Times, Honda, Subaru, Mazda, Volvo, University of California, White, Detroit Three, Lexus ES, Union, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Detroit, America, Mississippi, Tennessee, Chattanooga , Tennessee, Berkeley, Georgetown , Kentucky, Washington

The U.S. Federal Deposit Insurance Corporation reported bank profits at $68.4 billion in the most recent quarter, down 3.4% from the prior quarter. Year over year, bank profits were down 4.6%, due in large part to banks setting aside more funds in provision expenses for potential loan losses, which were up 33.2% in the last four quarters. Noninterest income was down $4.1 billion, or 5.2%, in the third quarter, while realized losses climbed $3 billion, the FDIC said. "The banking industry continued to show resilience in the third quarter," said FDIC Chairman Martin Gruenberg in a prepared statement. Gruenberg, who typically holds a press conference following the release of the quarterly report on bank profits, was not made available to reporters Wednesday.

Persons: Sheila Bair, Jason Reed, Martin Gruenberg, Gruenberg, Sen, Joni Ernst, Pete Schroeder, Chizu Organizations: Federal Deposit Insurance Corp, REUTERS, Rights, U.S, Federal Deposit Insurance Corporation, FDIC, Republicans, Republican, Thomson Locations: Washington, Iowa

People who claimed the power to control nature and the energy resources around them saw the environment as a tool to be used for progress, historians say. Over hundreds of years, that impulse has remade the planet's climate, too — and brought its inhabitants to the brink of catastrophe. Tapping nature for its resources drove progress and productivity for some, but it's also been a major driver of emissions and environmental degradation. By the mid-19th century, steam power was adopted in manufacturing, cotton mills, steam ships and locomotives around the world, turning coal into a global trade. Centuries later, the United Kingdom has nearly weaned itself off coal, with weeks or months at a stretch where the national grid gets no coal power.

Persons: ”, Luis Zambrano, it's, Anya Zilberstein, ” Zilberstein, Vera S, Candiani, Jan Golinski, “, ” Golinski, Deborah Coen, Andreas Malm, Barak, it’s, J.R, McNeill, ” McNeill, Victor Seow, Elizabeth Chatterjee, “ Indira Gandhi, Chatterjee, Joshua Howe, Howe, Yale's Coen, —, ” Howe, Fredrik Albritton Jonsson, Jonsson Organizations: National University Autónoma, Concordia University, Mexico City —, America, Princeton, University of New, Yale, Lund University, Tel Aviv University, Laboratory, Global, Project, Energy, Georgetown University, Communist, University of Chicago, Reed College, . Environmental Protection Agency, U.S, AP Locations: Nations, Mexico, Lake Texcoco, Montreal, Spanish, University of New Hampshire, Maui, Britain, Sweden, ”, India, Egypt, Nigeria, Ottoman Empire, United Kingdom, Cumbria, England, Wales, Scotland, China, Japan, U.S, Europe, United States, British, Portland , Oregon

☆ VCs didn't care about OpenAI's weird board structure. It was all about investing in Sam Altman and its 'transformative' tech.
▼ + stars: | 2023-11-22 | by ( Madeline Renbarger | Vishal Persaud | ) www.businessinsider.com time to read: +5 min

OpenAI's venture capital investors weren't thinking about its mission to serve "humanity" by developing artificial intelligence. After Altman's ouster, Vinod Khosla, an early investor in OpenAI, came to his defense despite the criticism. OpenAI's complex and unique corporate governance structure meant that VCs could invest in the capped profit entity, but never earn any influence over the nonprofit board of directors, all of whom were either cofounders or appointed outside AI experts. The board structure and its governance are all likely to change as part of the deal to bring Sam Altman back as CEO of OpenAI. The purpose of the newly formed OpenAI board – consisting of current board member D'Angelo, former US Treasury Secretary Larry Summers, and former Salesforce co-CEO Bret Taylor – is to vet and potentially appoint an expanded board of up to nine people, and that Microsoft and Altman want board seats, The Verge reported.

Persons: Sam Altman, OpenAI, Altman, VCs, Sam, Altman's, Vinod Khosla, Yunus, Khosla, Wesley Chan, Greg Brockman, Ilya Sutskever, Tasha McCauley, who's, Joseph Gordon, Levitt, Helen Toner, Adam D'Angelo, Karthee Madasamy, it's, David Sacks, D'Angelo, Larry Summers, Bret Taylor – Organizations: Business, Tiger Global Management, Khosla Ventures, Sequoia Capital, Microsoft, FPV Ventures, Rand Corporation, Georgetown's Center for Security, Emerging Technology, MFV Partners, Qualcomm Ventures, Ikea, Bosch, Novo Nordisk Foundation, Bertelsmann Foundation, Carlsberg Foundation, Craft Ventures Locations: OpenAI, Silicon Valley, Hollywood

Jack Guez | Afp | Getty ImagesAfter a weekend of crisis and tumult, Sam Altman has returned as the CEO of OpenAI. Nathan Laine | Bloomberg | Getty ImagesBret Taylor, board chair Bret Taylor is currently a board member at the e-commerce platform Shopify . It isn't clear if Taylor's involvement with his own AI startup will cease with his appointment to lead OpenAI's board. OpenAI's board fired Altman Friday after determining he was "not consistently candid in his communications," but its members never elaborated further. Jack Guez | AFP | Getty ImagesIlya Sutskever Ilya Sutskever co-founded OpenAI and serves as its chief scientist.

Persons: Sam Altman, Ilya Sutskever, Jack Guez, Altman, There's, Satya Nadella, Nadella, Here's, Bret Taylor, Nathan Laine, He's, Elon, Taylor, Salesforce, Larry Summers, David A, CNBC Larry Summers Larry Summers, Clinton, Summers, Jack Dorsey, Adam D'Angelo Adam D'Angelo, D'Angelo, Helen Toner, CSET, Vox, Jerod Harris, Helen Toner Helen Toner, Toner, Tasha McCauley, Carlton Laguna Nigel, Tasha McCauley Tasha McCauley, Joseph Gordon, Levitt, McCauley, Ilya Sutskever Ilya Sutskever, Sutskever, Greg Brockman, Brockman, Brockman's, Sven Hoppe Organizations: Tel Aviv University, Afp, Getty, Microsoft, CNBC, Sequoia, Tiger Global, Salesforce, Viva Technology Conference, Bloomberg, Google, Economic, Grogan, Harvard University, Obama, Economic Council, Twitter, Meta, Facebook, The Ritz, Carlton, Georgetown University's Center for Security, Emerging Technology, Philanthropy, Business Development, Ritz, Rand Corporation, GeoSim Systems, AFP, University of Toronto, Stanford, Technical University of Munich Locations: Tel Aviv, Paris, Davos, Switzerland, Washington, Laguna Niguel, Dana Point , California, Russian Israeli, Canadian

☆ OpenAI’s Cast of Characters
▼ + stars: | 2023-11-22 | by ( Jennifer Korn | Paul Glader | ) edition.cnn.com time to read: +12 min

Before OpenAI, Altman was president of Y Combinator, mentoring a host of founders and expanding his network in Silicon Valley. “We are encouraged by the changes to the OpenAI board,” he wrote on X on Wednesday. Mira MuratiNamed by the OpenAI board as Altman’s interim successor on Friday, Murati was replaced by Shear before the weekend was done. In September, she joined the board of directors of Shield AI, a defense technology company building AI pilot technology for aircraft. Will HurdAfter joining the OpenAI board in 2021, Hurd was the third director to exit in 2023.

Persons: OpenAI, Sam Altman, Altman, Elon, Satya Nadella, OpenAI’s ChatGPT, Kiko, Emmett Shear, Y, Nadella, ”, Mira Murati, Murati, Shear, “ Mira, ” Nadella, Ilya Sutskever, Brockman, Sutskever, “, we’ve, Adam D’Angelo D’Angelo, Mark Zuckerberg, D’Angelo, Forbes, ” Bret Taylor, Bret Taylor, Elon Musk, Taylor, Justin Kan, Tasha McCauley McCauley, Joseph Gordon, Levitt, McCauley, Greg Brockman Greg Brockman, Peter Thiel, Musk, Helen Toner Toner, AI’s, Toner, Joshua Kushner Kushner, Kushner, Jared Kushner, Karlie Kloss, Charles Kushner, Donald Trump, Larry Summers Summers, Obama, Clinton, Summers, Shivon Zilis, Zilis, Walter Isaacson, Will Hurd, Hurd, Nikki Haley, Reid Hoffman, Hoffman, OpenAI . Hoffman, He’s Organizations: CNN, Stanford University, Microsoft, OpenAI, Colby College, Dartmouth University, Tesla, Time, Phillips Exeter Academy, California Institute of Technology, Facebook, Twitter, Google, Yale University, Justin.tv, GeoSim Systems, Rand Corporation, Centre, Bard College, University of Southern, Harvard University, MIT, Elon, Georgetown’s Center for Security, Emerging Technology, Open, Oscar Health, Memphis Grizzlies, Harvard College, Harvard Business School, Republican, CIA, Allen & Company, Texas, M University, Reid Hoffman LinkedIn, PayPal, LinkedIn, Greylock Partners, SpaceX, Boring Company Locations: Silicon Valley, St, Louis , Missouri, OpenAI, Seattle , Washington, Israel, University of Southern California, North Dakota, Beijing, Georgetown, Canada, United States, Texas, Oxford

☆ AI poster child Altman back at OpenAI, may have fewer checks on power
▼ + stars: | 2023-11-22 | by ( Aditya Soni | ) www.reuters.com time to read: +4 min

[1/3] Sam Altman, CEO of ChatGPT maker OpenAI, arrives for a bipartisan Artificial Intelligence (AI) Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S., September 13, 2023. "Altman seems awfully powerful and it is unclear that any board would be able to oversee him. The board fired Altman last week with little explanation and attempted to move on by naming an interim CEO twice. "The fact that Summers and Taylor will join OpenAI is quite extraordinary and marks a dramatic reversal of fortunes in the company," Valle said. Sutskever, Altman and Taylor could not be immediately reached for comment.

Persons: Sam Altman, OpenAI, Chuck Schumer, Craig Hudson, Sam Altman's, Altman, Mak Yuen Teen, " Altman, Beatriz Valle, Bret Taylor, Salesforce, Larry Summers, Summers, Taylor, Valle, Jack Dorsey's, Tasha McCauley, Helen Toner, Ilya Sutskever, Adam D'Angelo, Sutskever, Sam, Gartner, Jason Wong, Aditya Soni, Mark Porter Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Microsoft, National University of Singapore Business School, Wall, Elon Musk's, Twitter, ., Harvard, Democratic, OpenAI, Georgetown's Center for Security, Emerging Technology, Thomson Locations: Washington , U.S, Bengaluru

While OpenAI later transitioned to a for-profit model, its controlling shareholder remains the nonprofit OpenAI Inc. and its board of directors. This unique structure made it possible for four OpenAI board members — the company's chief scientist, two outside tech entrepreneurs and an academic — to oust CEO Sam Altman on Friday. When it was founded, OpenAI’s original board co-chairs were Altman and Tesla CEO Elon Musk. Musk recently launched his own AI startup, xAI, to compete with OpenAI, Microsoft and Google, among others. OpenAI's board members have not responded to requests for comment.

Persons: ChatGPT, OpenAI, Sam Altman, Berkshire Hathaway, OpenAI’s, ”, Sarah Kreps, Altman, Greg Brockman, “, Kreps, Ilya Sutskever, we’ve, Adam D’Angelo, Tasha McCauley, Helen Toner, Reid Hoffman, Will Hurd, Shivon Zilis, Brockman, Elon Musk, Musk, D’Angelo, tweeting, ” He’s, Matt O'Brien, Michael Liedtke Organizations: FRANCISCO, Google, Facebook, OpenAI Inc, Cornell University’s Tech Policy Institute, Microsoft Corp, Microsoft, Georgetown Center for Security, Emerging Technology, Republican U.S . Rep, Tesla, OpenAI, Associated Press Technology Locations: Berkshire, OpenAI, Will Hurd of Texas, Providence , Rhode Island, San Francisco

☆ What OpenAI’s turmoil is really all about
▼ + stars: | 2023-11-21 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

OpenAI’s incredible upheaval — with former CEO Sam Altman caught in the middle — could have broad implications for who gets to control the future of artificial intelligence. However, Microsoft has already won the war: It is OpenAI’s most important stakeholder, with a promised $13 billion investment. In the past year, he has become the public face of the industry, and was instrumental in forging OpenAI’s partnership with Microsoft, which began in 2019. Altman, sources say, wanted to move quickly, while the OpenAI board wanted to move more cautiously. Both achievements are possible, and OpenAI’s strange structure — a nonprofit overseeing a for-profit company — was designed to contain AI from destroying humanity.

Persons: Sam Altman, OpenAI, ChatGPT, Altman, Greg Brockman, Satya Nadella, Kara Swisher, ”, Jason Schloetzer, Gil Luria, Davidson, “, Luria, ” Schloetzer, —, — CNN’s Clare Duffy Organizations: New, New York CNN, Microsoft, CNBC, CNN, Georgetown’s McDonough School of Business, D.A, Google Locations: New York, Silicon

☆ Opinion | Before Hillary Clinton, There Was Rosalynn Carter
▼ + stars: | 2023-11-21 | by ( Azadeh Moaveni | ) www.nytimes.com time to read: +4 min

Mrs. Carter had the canny instincts to know that a player who courts influence requires a court. Mrs. Carter’s charismatic press secretary, Mary Hoyt, led the fight for decent East Wing salaries, despite stiff opposition. President Carter was demanding sacrifice from all Americans and turning down the heat in the White House to cut costs. Feminists like Gloria Steinem faulted Mrs. Carter for not being sufficiently outré in her activism. “She creates neither love nor hate.”Neither America nor Washington was quite ready for Mrs. Carter at the time.

Persons: Carter, —, Mary Hoyt, Hoyt, Carter’s, Ford, ”, Kennedy, Gloria Steinem, “, Steinem, United Press International’s Helen Thomas, pettiness, Nancy Reagan, Katharine Graham, Andy Warhol, Mr Organizations: East Wing, Southern Baptist, White, United Press, Democratic Locations: Israel, Egypt, Washington, America, Wing, clogs, Georgetown, Georgia, Plains , Ga

Search resuls for: "georgetown"

25 mentions found