Discussion

• @carnage4life Dare Obasanjo on bluesky

  Elon just made an unsolicited $97.4B bid to acquire OpenAI.  The offer has been submitted to their board of directors.  —  Altman tweeted the following response “no thank you but we will buy twitter for $9.74 billion if you want,”  —  The drama never ends in the AI industry.

• @skynetandchill.com @skynetandchill.com on bluesky

  Weird.  If Musk bought OpenAI a lot of the assets would walk out the door.  Obv he wants to bid it up so the non-profit's board can't accept a lowball offer for the stake in the for-profit, limiting the for-profit's ability to raise money.

• @evanminto.com Evan Minto on bluesky

  This is the obvious next step.  If you've got control of all the regulatory agencies, why maintain the fiction of preventing conflicts of interest?  Everything is smash and grab now [embedded post]

• @edzitron.com Ed Zitron on bluesky

  Oh hell yeah.  HELL yeah, this is chaos shit.  I bet Microsoft pushes them to do it too.  Gets them out from under the investment.  Either way this would effectively shut down OpenAI.  Hail the apocalypse [embedded post]

• @harrymccracken@mastodon.social Harry McCracken on mastodon

  Once you've acquired an entire country, this sounds like small potatoes. https://www.wsj.com/...

• @karaswisher Kara Swisher on threads

  Having talked to a lot of folks close to this on all sides, ignore all the performative bromindes about safety or even open source, what Musk wants is to turn back time and to get a stake in the new entity.  He once said he invested $100 million, then halved that to $50 million a…

• @kylie.robison Kylie Robison on threads

  well that escalated quickly https://www.theverge.com/...

• @karaswisher Kara Swisher on threads

  Epic @sama response to Musk effort to fuck with him, which will obviously cause a ruckus

• @danprimack Dan Primack on x

  My understanding is that @elonmusk is not trying to buy the OpenAI nonprofit, per se, but rather the underlying for-profit assets that @sama must buy in order to reorg the company.  So it's partially a troll, and partially setting a price that may cause Sam to pay more than he mi…

• @kelseytuoc Kelsey Piper on x

  Elon's offer to purchase the OpenAI nonprofit for $97.4billion isn't going to happen, but it may seriously complicate OpenAI's efforts to claim the nonprofit is fairly valued at $40billion. If you won't sell it for $97.4billion, that means you think it's worth more than that.

• @eringriffith Erin Griffith on x

  It's easy for Altman to immediately blow off Musk's takeover offer for OpenAI because private companies don't have the same fiduciary duties that public ones to do take offers to shareholders. But also because its a lowball offer. OpenAI was last valued at $157bn and about to

• @herodividend @herodividend on x

  Elon Musk is able to buy OpenAI because he doesn't spend $5 on coffee everyday

• @kevinakwok Kevin Kwok on x

  Elons OpenAI bid of course is to move FMV for non profit conversion Interestingly this has long been grey area in tech startups. Because technically anyone can screw up a companies 409a / option pool planning by sending unsolicited term sheet Hasn't been major issue bc would be

• @pitdesi Sheel Mohnot on x

  OpenAI is converting to a for-profit that isn't controlled by the nonprofit. At conversion, the nonprofit gets a 25% stake in OpenAI in exchange for giving up control. At $260B val of OAI, the nonprofit is worth $65B. They have to sell it at FMV, which is now complicated.

• @chrisprucha Chris Průcha on x

  It sounds like Elon tried out Deep Research and realized OpenAI is a full generation ahead

• @danprimack Dan Primack on x

  It's true that the last time @elonmusk bid on a co. he ended up with it, despite trying to bail. And both are chaired by the exact same guy (@btaylor). But a big diff, as @inafried points out: OpenAI board doesn't have fiduciary duty like Twitter's did. It's mission-driven.

• @highyieldharry @highyieldharry on x

  Elon bidding for OpenAI [image]

• @miscountedcf @miscountedcf on x

  The buyside advisor analyst on the OpenAI deal seeing that he messed up the eqv to ev bridge after Elon already tweeted the offer [image]

• @austen Austen Allred on x

  So my very basic read is Elon's offer isn't serious (or at least, he doesn't actually think they'll accept), it just forces OpenAI to adjust the “fair market value” much higher as they try to purchase it out of the nonprofit. Kinda savage.

• @greg16676935420 Greg on x

  Elon is trying to buy OpenAI so he can rename it to ClosedAI

• @trungtphan Trung Phan on x

  trying to explain OpenAI's corporate structure after Elon put a $98B bid on the non-profit arm of the company...which is supposed to be worth 25% of the entire business...which is trying to turn into a for-profit and was recently valued at $300B after Masa put in $40B...which [vi…

• @pitdesi Sheel Mohnot on x

  Wild stuff: Elon & a group is offering $97.4B to acquire (via xai) the nonprofit that controls OpenAI, complicating Sam Altman's plans to convert it to a for-profit [image]

• @austen Austen Allred on x

  I don't know how you can take over a private company, but I also don't know how a nonprofit becomes a private company, so I have no idea what's going on

• @basedbeffjezos @basedbeffjezos on x

  If Elon pulls this off he is king of corporate takeovers forever. Making a $100B org ship open source would be an insanely e/acc outcome [image]

• @shaanvp Shaan Puri on x

  this is some next-level harvey spector shit. Elon trying to checkmate openAI by setting a huge ‘fair market’ value on the asset rather than letting them convert at their own terms?

• @netcapgirl Sophie on x

  elon preparing his bid for openai [image]

• @danprimack Dan Primack on x

  Just to be clear, Elon's odds of buying OpenAI are similar to the odds of the the Patriots winning next year's Super Bowl. After Drake Maye announces a surprise retirement.

• @pitdesi Sheel Mohnot on x

  OpenAI is converting to a for-profit that isn't controlled by the nonprofit. At conversion, the nonprofit gets a 25% stake in OpenAI in exchange for giving up control. At $260B val of OAI, the nonprofit is worth $65B. They have to sell it at FMV, which is now complicated.

• @garymarcus Gary Marcus on x

  Hot take on Musk's bid to take over the OpenAI nonprofit, from my newsletter: 1Altman desperately needs to ditch the OpenAI nonprofit. It's become an albatross around his neck. His business is burning cash, and investors don't like the nonprofit. And in the last round of

• @altryne Alex Volkov on x

  While we're all waiting on Grok3 (ahm), space uncle decided to provide entertainment [image]

• @mikeisaac Rat King on x

  more to come, but it's a headache for OAI as Musk continues going after them for not sticking to its nonprofit roots (while also building his own AI company with XAI) https://www.nytimes.com/...

• @mikeisaac Rat King on x

  because of how complicated OpenAI's nonprofit structure beginnings are, this bid is a giant pain in the neck for OAI leadership, which is currently trying to convert itself into a for-profit company the bid is, essentially, an attempt at gumming up the works [image]

• @joannastern Joanna Stern on x

  I thought the OpenAI Super Bowl ad was good but not that good. https://www.wsj.com/... [image]

• @timsweeneyepic Tim Sweeney on x

  Will OpenAI take VBucks in payment? Thinking of making an offer.

• @kimmaicutler Kim-Mai Cutler on x

  If Elon wants to own your company and you are a founder who doesn't want to sell, it is probably a bad idea if he has also admin access to the SEC, FTC, Treasury, IRS, etc.

• @scottnover Scott Nover on x

  guy who needed tens of billions in loans and outside investment to buy twitter wants to acquire what's soon to be the most valuable private company in the world.

• @scottnover Scott Nover on x

  when you offer to overpay for a company by about double and it's a publicly held firm—cough, cough—the board doesn't really have a choice.

• @mikeisaac Rat King on x

  if the current funding round with Softbank valuing OpenAI at $300 billion is to be believed, some might consider this lowballing..... [image]

• @dnak0v Daniel Nakov on x

  Wow, Elon really liked the superbowl ad

• @shakeelhashim Shakeel on x

  Well this is interesting: Elon has valued the OpenAI nonprofit at $96b — well above the $40b being floated as a valuation for it. [image]

• @mgsiegler M.G. Siegler on x

  Interesting highlight I put in my blurb a month ago... https://spyglass.org/... [image]

• @zerohedge @zerohedge on x

  “It's time for OpenAI to return to the open-source, safety-focused force for good it once was. We will make sure that happens.” - Musk said quoted by WSJ

• @kylebrussell Kyle Russell on x

  if you can't beat em

• @eringriffith Erin Griffith on x

  well this is quite a twist https://www.wsj.com/...

• @berber_jin1 Berber Jin on x

  SCOOP: Musk is making an unsolicited, $97 billion bid to take control of OpenAI's non-profit. Musk's attorney submitted the bid to OpenAI's board today w/ @jtoonkel https://www.wsj.com/...

• r/teslainvestorsclub r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/technology r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/ChatGPT r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/intelstock r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/politics r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/wallstreetbets r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/BetterOffline r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/news r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/singularity r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• r/OpenAI r on reddit

  Elon Musk-Led Group Makes $97.4 Billion Bid for Control of OpenAI

• @sama Sam Altman on x

  no thank you but we will buy twitter for $9.74 billion if you want

• @elonmusk Elon Musk on x

  Scam Altman [video]

• @elonmusk Elon Musk on x

  @sama Swindler

• @mattzeitlin Matthew Zeitlin on x

  i feel like if the richest man in the world who was also the shadow ceo of the us government hated me i wouldn't be able to get these jokes off

• @oalexanderdk Oliver Alexander on x

  More than Twitter is currently worth.

• @coldhealing @coldhealing on x

  Kendrick vs. Drake for people with 6 figure salaries and undecorated apartments [image]

• @jack_raines Jack Raines on x

  Kendrick vs Drake for dudes sleeping on air mattresses in SF. [image]

• @adamrutherford Dr Adam Rutherford on x

  Boy kings, we gave power to morally bankrupt children, who steal our work, and rob for fun. Historian spoiler alert: it never ends well for these unelected despots.

• @nickadobos Nick Dobos on x

  Speculating: If Elon is seriously trying to buy OpenAI, theres a good chance @grok 3 training run failed big time and they can't raise for a new run, and/or see no way to match OpenAI's progress Serious question: why else buy OpenAI for $97 bil when your own ai lab is valued at $…

• @itsmattslaw Matt Margolis on x

  NO ONE SHOW THIS TO THE DELAWARE CHANCERY COURT

• @dylan522p Dylan Patel on x

  The point of Elon's offer to buy OpenAI for $97.4B to try to fuck over the non-profit to for-profit conversion A standing offer from many accredited investors to buy the non-profit portion OAI prolly tanks the argument to IRS/states Which then maybe kills future fundraising

• @vahidk Vahid Kazemi on x

  Funding secured

• @jessicalessin Jessica Lessin on x

  “Just embarrassing to watch.” - Altman https://www.theinformation.com/ ...

• @netcapgirl Sophie on x

  [image]

• @thezvi Zvi Mowshowitz on x

  A bit of a lowball but I'm all in favor given he would rename it Twitter again.

• @nathanpmyoung @nathanpmyoung on x

  Altman is currently trying to sell OpenAI to himself at a lowball price. It is a bit technical, so he may get away with it. This is gonna take more than 1 tweet, and I'm no journalist but it makes me angry 🧵 https://x.com/...

• @alexandrosm @alexandrosm on x

  Someone tell @elonmusk that he should package up the twitter domain name and the lease to the San Francisco building, along with some of that DEI merch they found in the closets into twitter's old corporate shell and demand Altman make good on this public offer he just made.

• @shakeelhashim Shakeel on x

  I am pretty sure Altman does not get to unilaterally decide whether to accept or reject a takeover offer for OpenAI's non-profit — surely that's a consideration for the board? Or is this an admission that the board is toothless?

• @inafried Ina Fried on x

  Exclusive: OpenAI is not for sale, @sama tells me, saying @elonmusk should compete in the marketplace. https://www.axios.com/...

• @mylesudland Myles Udland on x

  “Probably his whole life is from a position of insecurity — I feel for the guy.” https://www.bloomberg.com/...

• @jeffjarvis@mastodon.social Jeff Jarvis on mastodon

  Ever since Altman announced converting OpenAI to for-profit, I have been saying on my podcasts that the renegotiation of the cap table would be a clusterf*.  Now it'll be even more so.  —  Musk's $97.4 Billion OpenAI Bid Piles Pressure on Altman  —  https://www.wsj.com/...

• @markamesexiled Mark Ames on x

  Elon getting hosed down by Ari Emanuel, the brother of Rahm, Obama's consigliere/architect of Obamacare. Elon and Ari are teaming up to take control of OpenAI for $97 billion, same time as Elon seizes control over trillions of dollars of public money & private citizens' data. [im…

• @silvermanjacob Jacob Silverman on x

  Who are Vy Capital's LPs? https://www.nytimes.com/...

• r/privacy r on reddit

  elon musk wants to buy openai: time to clean up

• r/stupidpol r on reddit

  Elon Musk-led group makes $97 billion bid for control of OpenAI

• r/allinpodofficial r on reddit

  Elon Musk-led group makes $97.4 billion bid for control of OpenAI