Open AI Announces CZ Will Be Replacing Sam Altman As CEO Of Open AI
On Tuesday, it was announced that Changpeng Zhao "CZ" would be stepping down as CEO of Binance. On Wednesday, Open AI, which is the company behind Chat GPT, announced that they had entered into talks with CZ to replace former CEO Sam Altman. Open AI is currently in disarray after the board surprisingly fired Altman for unknown reasons. Since his firing, the board had originally changed their minds, asking for Altman to come back. He has since refused and the company moved quickly into announcing that CZ would be filling his role.
CZ has his work cut out for him as the Open AI employees are revolting right now in response to the former CEOs sudden firing. Over 700 of the company's employees have written a letter threatening to quit unless he is reinstated, which now he won't be because doesn't want to come back. It is unknown how many employees the company has, and how many can be replaced with AI once they leave. All in all, both the world of AI and crypto have been thrown into complete chaos.
CZ has been communicating with the Bugle via email and has explained that he plans on getting the employees to stay by offering them a portion of the premined tokens he plans to launch for Open AI. He is also planning on offering employees some BNB token, which is the token that Binance uses on their platform. Both of these routes violate SEC laws, but he is convinced that he can bribe his way out it. CZ specifically said that he will be offering Gary Gensler a job at Open AI for after he leaves the SEC, and that should cover him legally.
The move to offer the employees tokens may have the effect of pacifying the mutinous Open AI employees. One of the concerns in the employee letter to the board was that Altman had promised them World Coin in exchange for scanning their eye balls, and now that he was no longer at the company, might not actually give them the tokens they were promised.
CZ's coerced departure from Binance, and move to AI marks a growing trend in the crypto space. Many VC's and investors have lost interest in losing money in crypto, and now are looking for new and creative ways to lose money in investing in AI. CZ will be bringing a blend of both to his new position which allows for potential unlimited downside, which will likely attract many investors.
