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Big plot twists in OpenAI

Big plot twists in OpenAI

 



Behind the big upheaval

A day after OpenAI announced a major update to its ChatGPT chatbot, the company announced that its chief scientist and co-founder is leaving the company.

Six months after helping lead the uprising that temporarily ousted Sam Altman as CEO of OpenAIs, there were signs that Ilya Satskeva would resign (he has not been seen in office since that incident). (not seen). But it also raises questions about the future of big developers.generation AI

OpenAI wouldn't exist without him and was definitely shaped by him, Altman told The Times about Sutskever. It's hard to underestimate Sutskevas' importance to his OpenAI. He helped found his OpenAI in 2015 along with others including Altman and Elon Musk, and his stature as a leading researcher in neural networks led him to found it shortly after. It gave the company instant credibility.

However, Sutskevers' presence in OpenAI may no longer be sustainable. In November, while a member of the board, Mr. Sutskever worked with other board members to fire Mr. Altman, citing his consistent lack of candor in his communications. After many OpenAI employees resigned in protest, he had a change of heart, effectively resigning from the board and supporting Altman's return.

Since Altman's return, Sutskever has remained publicly silent, but he led the creation of the so-called Super Alignment Team to ensure OpenAIs products do not harm humanity. (Jan Rijke, who led the team with Mr. Sutskever, also resigned on Tuesday and will be replaced by John Schulman, a co-founder of another company.) Meanwhile, OpenAI is already effectively a company with Jakub Paciocchi was promoted to chief scientist.

Sutskever's exit is another sign that Altman is in the driver's seat. OpenAI is expanding its board after last year's turmoil, but Altman remains the company's most prominent figure. (Pachocchi and Shulman are considered his allies.)

Although Sutskever is concerned about AI's apocalyptic potential, he said in a statement Tuesday that he is confident the company will build artificial general intelligence AI that is as sophisticated, safe and beneficial as the human brain. Ta. In some ways, this confirms Altman's approach of rapid innovation and commercialization.

Where does Satskeva go? Although he did not provide details, Sutskever said in his statement that he is looking forward to what happens next on a project that has very personal meaning to me, and I will share more details about it in due course. He said it was planned.

One possibility that some have raised is the joining of Musk, who is said to have hired Sutskever for OpenAI. Mr. Musk defended Mr. Sutskever's earlier efforts to oust Mr. Altman, and in December offered his former colleague a job at his startup xAI.

However, Sutskever co-signed an OpenAI blog post rebutting Musk's breach of contract lawsuit against the company, signaling a breakup between the two.

what's happening here

The S&P 500 is nearing record highs as investors await key inflation data. The Consumer Price Index report is released at 8:30 a.m. ET (as is the retail sales report), and economists expect inflation to have eased slightly last month. Hotter-than-expected coverage could leave a volatile trading day, given Fed Chair Jay Powell has warned that stubborn inflation could force the central bank to raise long-term interest rates. There is a possibility that this will result in a serious transaction.

The Department of Justice announced that Boeing violated the 737 Max settlement. The agency will help the aircraft manufacturer prevent and detect violations of U.S. fraud laws in its operations, a key term of a 2021 settlement agreement signed in the wake of two fatal 737 Max aircraft crashes. accused of failing to design, implement, and enforce a compliance and ethics program. Boeing said it believed it was in compliance with the agreement.

Vanguard names Salim Ramzi, who ran BlackRocks' exchange-traded fund business, as its new CEO to replace Tim Buckley, who is retiring as the $9.3 trillion fund manager. He was nominated by a former BlackRock executive. Ramzi was once considered a possible successor to BlackRocks CEO Larry Fink.

Publishers are concerned as AI search increases

Search is a cash cow for Google's parent company Alphabet, helping make it a $2 trillion behemoth. This dominance is at the heart of the largest antitrust case in a generation, giving the companies a lock on the market and long plaguing web publishers' advertising-driven business models.

Artificial intelligence is joining the mix.

Google is making a major boost to its $175 billion search business this week. We are introducing a product called AI Overovers that uses generative AI to significantly enhance search results. The move comes as Big Tech's arms race to commercialize technology, especially through search, heats up.

Publishers are concerned about the impact. AI Overview makes AI-generated results more prominent, essentially pushing your website links further down the page and potentially stealing traffic away from non-Google sites. Some people will simply get hit, Ross Hudgens, CEO of search engine optimization consulting firm Siege Media, told The Washington Post.

One oft-cited statistic: Such adjustments could reduce search engine traffic by 25% by 2026.

Google has downplayed that concern. Liz Reed, vice president of search, said in a blog post that so far, they've found that links included in AI summaries receive more clicks. However, the company did not say whether the change would lead to increased traffic for publishers, notes Kevin Roos of the Times.

Does search need news? A recent study by researchers at the University of Houston and Columbia University found that Google and Meta owe U.S. publishers up to $13.9 billion annually for the value they bring to search results. It is estimated that he has.

Google pushed back against the study, claiming that less than 2% of all searches are news-related and that the company already sends billions of visitors to publishers' sites.

AI has disrupted the media industry, which is undergoing massive layoffs and layoffs. Business owners and journalists are concerned that this technology could lead to mass theft of their work. Some publishers have licensing deals with big tech, like the Associated Press did with OpenAI.

In contrast, the New York Times and a number of other newspapers, including the New York Daily News and Chicago Tribune, sued OpenAI and Microsoft for copyright infringement.

FDIC chairman faces a battle on the hill

The chairman of the embattled Federal Deposit Insurance Corporation spoke at the Capitol on Wednesday in his first public appearance since a scathing report found rampant sexual harassment and discrimination within the company. It is expected that they will be treated harshly.

Governor Martin Gruenberg has rejected calls to resign, but pressure continues on the regulator, which is also at loggerheads with big banks over proposed new capital rules.

Mr. Gruenberg has apologized, but it appears he has no intention of attacking. Last week, Cleary Gottlieb lifted the lid on the firm's toxic culture. The company was hired following an investigation by the Wall Street Journal. The investigation detailed reports that senior bank examiners and other officials sent nude photos of themselves to junior female bank employees and took them to brothels while on business trips. Gruenberg will take full responsibility and say he is committed to addressing these issues, according to prepared remarks.

Top Republicans want him to step down. Gruenberg, a Democrat, has led the agency for 10 of the past 13 years, and President Biden reappointed him to a second term in 2022. Republican Rep. Patrick McHenry, chairman of the Financial Services Committee, wants him to step down.

But Rep. Maxine Waters, the committee's ranking Democrat, and Sen. Sherrod Brown (R-Ohio), chairman of the Senate Banking Committee, where Mr. Gruenberg is scheduled to testify Thursday, backed him. ing.

New banking rules could be one of the reasons for the split. The so-called Basel III end-game rules would force lenders with more than $100 billion in assets to set aside more capital to deal with shocks like last year's local bank crisis. Banks argue that it would limit competition and squeeze their ability to lend. Republicans also oppose the rule.

Gruenberg's removal means Republican FDIC Vice Chairman Travis Hill will step forward, meaning Democrats will lose their majority.

Mr. Gruenberg will probably thank politics for keeping his job for now. Jonathan Macy, a corporate law professor at Yale University, told the Times that he thinks it will be very difficult for CEOs of publicly traded companies to survive this scandal, especially since it seems to be quite widespread and has been going on for many years. , he told the Times.

Legal battle against hatred

The fighting that has erupted over the war in Gaza is forcing some American companies to reevaluate their relationships with universities and their role in the national dialogue. Some have withheld donations from Ivy League schools, while others have attacked their curriculum.

The law firm Paul, Weiss, Rifkind, Wharton & Garrison is taking a different approach by creating a center to address discrimination through litigation.

Center to Combat Hate was formed over the past six months. It was officially announced last night at an event at Paul Weiss' office in Midtown. The center partners with civil rights organizations and educational institutions to pursue civil rights-focused impact litigation, or litigation aimed at influencing social policy.

The center will be led by two partners. Daniel Kramer became embroiled in a civil rights lawsuit after his brother-in-law was attacked and killed at the Tree of Life synagogue. He was part of a team hired by the District of Columbia attorney general to file a civil lawsuit against the Proud Boys and Oath Keepers over the January 6, 2021, attack on the Capitol.

Karen Dunn, the firm's head of litigation, led a team of lawyers that won $25 million in a civil suit brought against organizers of a white power rally in Charlottesville, Virginia. Mr. Dunn is well known in Democratic political circles as a member of the debate preparation team for President Barack Obama and Vice President Kamala Harris.

Many companies are trying to avoid political battles. But Kramer was confident Paul Weiss customers would not be disappointed. Asked if the center would be divisive, Kramer told Dealbook that he doesn't have any clients who support hate.

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policy

TikTok's creators have sued the US government over a new law that would force the video app's sale by its Chinese parent company. The group's legal costs are being paid by the company. (New York Times)

Jacob Helberg, an advisor to technology company CEOs and husband of prominent investor Keith Lavoie, has donated $1 million to Donald Trump's re-election campaign. (wapo)

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Sources

1/ https://Google.com/

2/ https://www.nytimes.com/2024/05/15/business/dealbook/ilya-sutskever-sam-altman-openai.html

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