Top Australian VCs stunned by Sam Altman's OpenAI firing as staff push for return
Unfathomable. Value destructive. Mind-boggling. These are just some of the terms top Australian tech investors used to describe the shocking dismissal of Sam Altman from OpenAI — who now could be set for a remarkable return.
The ripple effects from the abrupt firing — and now likely return — of OpenAI co-founder Sam Altman as CEO over the weekend are being felt far beyond Silicon Valley. The Australian venture capital and tech startup sector has been just as shocked and captivated by the situation as everyone else.
At the time of publication on Monday morning pressure was building for Altman was to be reinstated into the top job at the emerging tech giant following a groundswell of anger from OpenAI staff and investors. It would cap off a tumultuous weekend for OpenAI, which is behind the ChatGPT platform and has been described as the fastest growing technology business in history.
The possible return, driven by a groundswell of anger from staff and investors, would cap a tumultuous 48 hours after Altman was removed by the board, with little notice given to him or its biggest outside investor Microsoft.
Square Peg founder and partner Paul Bassat said the decision by the board of OpenAI to fire Altman was shocking and the opposite of a founder-friendly approach.
