Everyone Has It All Wrong With OpenAI | Chamath Palihapitiya

Everyone Has It All Wrong With OpenAI | Chamath Palihapitiya

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OpenAI has taken the internet by storm in the past month and many across traditional media and social media have been speculating that, for better or for worse, no industry is safe from being affected, crypto included. Some are predicting that OpenAI can bring significant benefits to the Crypto industry, such as increased efficiency, improved security, and compliance. While some are predicting that OpenAI will lead to better art and narration in Web3 games. OpenAI made headlines this week, as Microsoft made a $10 investment into OpenAI, in a complicated deal, which if all goes through, looks as if Microsoft would have a 49% stake in the company. OpenAI started off as a not-for-profit project, as it was deemed too powerful to be in the hands of one private company. That tune changed once the creators realized it was too powerful to be left to the open public. Pundits and analysts fear that OpenAI will take out the workforce, and not just entry-level jobs but white-collar, traditionally high-paying jobs. Investor Chamath Palihapitiya has a different view on what’s possible. In his all-in Podcast, Chamath compared openAI to that of ingredients at the grocery store. He believes that the real opportunity is going to be for those entrepreneurs and investors who know how to take the ingredients and create their own special meal and instead of looking at OpenAI from a fearful perspective, look at it as a real opportunity to make serious money.

Chamath Palihapitiya is a Sri Lankan-born Canadian and American venture capitalist, engineer, SPAC sponsor, founder and CEO of Social Capital. Palihapitiya was an early senior executive at Facebook, working at the company from 2007 to 2011. Following his departure from Facebook, Palihapitiya started his fund, The Social+Capital Partnership, through which he invested in several companies, including Yammer and Slack. He is a co-host of technology podcast All In. Chamath has an estimated net worth of around US$1.2 billion, ranking him 2,378th in the Forbes list of Billionaires 2021.
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