Connect with us

Published

on

Watch a timeline of the drama between Sam Altman, OpenAI and Microsoft

Hundreds of OpenAI employees, including co-founder and board member Ilya Sutskever, have signed a letter demanding that either OpenAI’s remaining board members resign or those OpenAI employees will join Sam Altman’s new venture at Microsoft, according to NBCNews.

“Your actions have made it obvious that you are incapable of overseeing OpenAI,” the letter says. About 667 people have signed the letter. OpenAI has about 770 employees.

The letter says that Microsoft has “assured” those employees that they would have jobs at the new subsidiary, should they “choose to join.”

Signatories include some of OpenAI’s most senior executives. Former interim CEO Mira Murati and OpenAI COO Brad Lightcap are the first two signatories on the letter. Murati was appointed as CEO following Altman’s exit but was then succeeded by Twitch co-founder Emmett Shear.

Wired first reported on the letter Monday morning.

Sam Altman, CEO of OpenAI, speaks during The Wall Street Journal’s WSJ Tech Live conference in Laguna Beach, California, on Oct. 17, 2023.

Patrick T. Fallon | AFP | Getty Images

In an about-face, Sutskever’s name appears as a signature on the letter. He wrote Monday morning on the social media platform X, formerly Twitter, that he “deeply” regretted his participation in the “board’s actions.”

Multiple OpenAI employees voiced their support on social media as well. “OpenAI is nothing without its people,” the missives said.

Altman was forced out Friday by OpenAI’s board, including Sutskever, which cited unspecified issues with his communications. That prompted a backlash from employees and investors, CNBC has previously reported, including Microsoft, Thrive Capital, and Sequoia.

The board then attempted to negotiate Altman’s return, but those talks were unsuccessful. Microsoft CEO Satya Nadella on Sunday announced that Altman and fellow OpenAI co-founder Greg Brockman would join the company in a new, largely independent venture. Nadella’s announcement also referred to their “colleagues” joining Microsoft, although the number wasn’t clear.

Microsoft declined to comment on whether it would hire employees who choose to leave OpenAI. OpenAI wasn’t immediately available to comment on the letter.

Here’s the full note, emphasis theirs:

“To the Board of Directors at OpenAI,

OpenAI is the world’s leading AI company. We, the employees of OpenAI, have developed the best models and pushed the field to new frontiers. Our work on AI safety and governance shapes global norms. The products we built are used by millions of people around the world. Until now, the company we work for and cherish has never been in a stronger position.

The process through which you terminated Sam Altman and removed Greg Brockman from the board has jeopardized all of this work and undermined our mission and company. Your conduct has made it clear you did not have the competence to oversee OpenAI.

When we all unexpectedly learned of your decision, the leadership team of OpenAI acted swiftly to stabilize the company. They carefully listened to your concerns and tried to cooperate with you on all grounds. Despite many requests for specific facts for your allegations, you have never provided any written evidence. They also increasingly realized you were not capable of carrying out your duties, and were negotiating in bad faith.

The leadership team suggested that the most stabilizing path forward – the one that would best serve our mission, company, stakeholders, employees and the public – would be for you to resign and put in place a qualified board that could lead the company forward in stability. Leadership worked with you around the clock to find a mutually agreeable outcome. Yet within two days of your initial decision, you again replaced interim CEO Mira Murati against the best interests of the company. You also informed the leadership team that allowing the company to be destroyed “would be consistent with the mission.”

Your actions have made it obvious that you are incapable of overseeing OpenAI. We are unable to work for or with people that lack competence, judgement and care for our mission and employees. We, the undersigned, may choose to resign from OpenAI and join the newly announced Microsoft subsidiary run by Sam Altman and Greg Brockman. Microsoft has assured us that there are positions for all OpenAI employees at this new subsidiary should we choose to join. We will take this step imminently, unless all current board members resign, and the board appoints two new lead independent directors, such as Bret Taylor and Will Hurd, and reinstates Sam Altman and Greg Brockman.”

CNBC’s Jordan Novet and Hayden Field contributed to this report.

Read more CNBC news on OpenAI

This is breaking news. Please check back for updates.

Continue Reading

Technology

Amazon launches fixed pricing for treatment of conditions such as hair loss. Hims & Hers stock drops 15%

Published

on

By

Amazon launches fixed pricing for treatment of conditions such as hair loss. Hims & Hers stock drops 15%

A worker delivers Amazon packages in San Francisco on Oct. 24, 2024.

David Paul Morris | Bloomberg | Getty Images

Amazon on Thursday announced Prime members can access new fixed pricing for treatment of conditions like erectile dysfunction and men’s hair loss, its latest effort to compete with other direct-to-consumer marketplaces such as Hims & Hers Health and Ro.

Shares of Hims & Hers fell as much as 17% on Thursday, on pace for its worst day.

Amazon said in a blog post that Prime members can see the cost of a telehealth visit and their desired treatment before they decide to proceed with care for five common issues. Patients can access treatment for anti-aging skin care starting at $10 a month; motion sickness for $2 per use; erectile dysfunction at $19 a month; eyelash growth at $43 a month, and men’s hair loss for $16 a month by using Amazon’s savings benefit Prime Rx at checkout.

Amazon acquired primary care provider One Medical for roughly $3.9 billion in July 2022, and Thursday’s announcement builds on its existing pay-per-visit telehealth offering. Video visits through the service cost $49, and messaging visits cost $29 where available. Users can get treatment for more than 30 common conditions, including sinus infection and pink eye.

Medications filled through Amazon Pharmacy are eligible for discounted pricing and will be delivered to patients’ doors in standard Amazon packaging. Prime members will pay for the consultation and medication, but there are no additional fees, the blog post said.

Amazon has been trying to break into the lucrative health-care sector for years. The company launched its own online pharmacy in 2020 following its acquisition of PillPack in 2018. Amazon introduced, and later shuttered, a telehealth service called Amazon Care, as well as a line of health and wellness devices.

The company has also discontinued a secretive effort to develop an at-home fertility tracker, CNBC reported Wednesday.

— CNBC’s Annie Palmer contributed to this report.

Continue Reading

Technology

WikiLeaks whistleblower Chelsea Manning says censorship is still ‘a dominant threat’

Published

on

By

WikiLeaks whistleblower Chelsea Manning says censorship is still 'a dominant threat'

Chelsea Manning: Censorship still a dominant threat

Former U.S. Army intelligence analyst Chelsea Manning says censorship is still “a dominant threat,” advocating for a more decentralized internet to help better protect individuals online.

Her comments come amid ongoing tension linked to online safety rules, with some tech executives recently seeking to push back over content moderation concerns.

Speaking to CNBC’s Karen Tso at the Web Summit tech conference in Lisbon, Portugal, on Wednesday, Manning said that one way to ensure online privacy could be “decentralized identification,” which gives individuals the ability to control their own data.

“Censorship is a dominant threat. I think that it is a question of who’s doing the censoring, and what the purpose is — and also censorship in the 21st century is more about whether or not you’re boosted through like an algorithm, and how the fine-tuning of that seems to work,” Manning said.

“I think that social media and the monopolies of social media have sort of gotten us used to the fact that certain things that drive engagement will be attractive,” she added.

“One of the ways that we can sort of countervail that is to go back to the more decentralized and distribute the internet of the early ’90s, but make that available to more people.”

Nym Technologies Chief Security Officer Chelsea Manning at a press conference held with Nym Technologies CEO Harry Halpin in the Media Village to present NymVPN during the second day of Web Summit on November 13, 2024 in Lisbon, Portugal. 

Horacio Villalobos | Getty Images News | Getty Images

Asked how tech companies could make money in such a scenario, Manning said there would have to be “a better social contract” put in place to determine how information is shared and accessed.

“One of the things about distributed or decentralized identification is that through encryption you’re able to sort of check the box yourself, instead of having to depend on the company to provide you with a check box or an accept here, you’re making that decision from a technical perspective,” Manning said.

‘No longer secrecy versus transparency’

Manning, who works as a security consultant at Nym Technologies, a company that specializes in online privacy and security, was convicted of espionage and other charges at a court-martial in 2013 for leaking a trove of secret military files to online media publisher WikiLeaks.

She was sentenced to 35 years in prison, but was later released in 2017, when former U.S. President Barack Obama commuted her sentence.

Asked to what extent the environment has changed for whistleblowers today, Manning said, “We’re at an interesting time because information is everywhere. We have more information than ever.”

She added, “Countries and governments no longer seem to invest the same amount of time and effort in hiding information and keeping secrets. What countries seem to be doing now is they seem to be spending more time and energy spreading misinformation and disinformation.”

Manning said the challenge for whistleblowers now is to sort through the information to understand what is verifiable and authentic.

“It’s no longer secrecy versus transparency,” she added.

Continue Reading

Technology

SoftBank-backed fintech Zopa aims to double profit this year as it eyes 2025 current account launch

Published

on

By

SoftBank-backed fintech Zopa aims to double profit this year as it eyes 2025 current account launch

Jaidev Janardana, CEO of U.K. digital bank Zopa.

Zopa

LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the company’s CEO told CNBC.

Zopa posted revenues of £222 million ($281.7 million) in 2023 and is expecting to cross the £300 million revenue milestone this year — that would mark a 35% annual jump.

The 2024 estimates are based on unaudited internal figures.

The firm also says it is on track to increase pre-tax profits twofold in 2024, after hitting £15.8 million last year.

Zopa, a regulated bank that is backed by Japanese giant SoftBank, has plans to venture into the world of current accounts next year as it looks to focus more on new products.

The company currently offers credit cards, personal loans and savings accounts that it offers through a mobile app — similar to other digital banks such as Monzo and Revolut which don’t operate physical branches.

“The business is doing really well. In 2024, we’ve hit or exceeded the plans across all metrics,” CEO Jaidev Janardana told CNBC in an interview Wednesday.

He said the strong performance is coming off the back of gradually improving sentiment in the U.K. economy, where Zopa operates exclusively.

Commenting on Britain’s macroeconomic conditions, Janardana said, “While it has been a rough few years, in terms of consumers, they have continued to feel the pain slightly less this year than last year.”

The market is “still tight,” he noted, adding that fintech offerings such as Zopa’s — which typically provide higher savings rates than high-street banks — become “more important” during such times.

“The proposition has become more relevant, and while it’s tight for customers, we have had to be much more constrained in terms of who we can lend to,” he said, adding that Zopa has still been able to grow despite that.

A big priority for the business going forward is product, Janardana said. The firm is developing a current account product which would allow users to spend and manage their money more easily, in a similar fashion to mainstream banking providers like HSBC and Barclays, as well as fintech upstarts such as Monzo.

What leaders are saying about AI at one of Europe's biggest tech shows

“We believe that there is more that the consumer can have in the current account space,” Janardana said. “We expect that we will launch our current account with the general public sometime next year.”

Janardana said consumers can expect a “slick” experience from Zopa’s current account offering, including the ability to view and manage multiple account bank accounts from one interface and access to competitive savings rates.

IPO ‘not top of mind’

Continue Reading

Trending