In early 2018, Elon Musk dismissed a proposal from Sam Altman to launch a cryptocurrency for OpenAI, citing concerns over potential damage to the organization’s credibility.
Court documents reveal that Altman suggested an initial coin offering (ICO) as a fundraising method, but Musk responded that such a move “would simply result in a massive loss of credibility for OpenAI and everyone associated with the ICO.”
The proposal emerged months after discussions about transitioning OpenAI from a nonprofit to a for-profit entity. In September 2017, Altman and Greg Brockman proposed the for-profit idea, which Musk opposed, stating, “either go do something on your own or continue with OpenAI as a nonprofit.”
Musk’s concerns about the ICO reflected broader apprehensions regarding the potential impact on OpenAI’s mission and reputation. He emphasized that pursuing such a fundraising strategy could undermine the organization’s commitment to advancing artificial intelligence for the benefit of humanity.
The court filings also highlight internal debates within OpenAI’s leadership about the best path forward for the organization. These discussions underscore the challenges of balancing financial sustainability with the ethical considerations inherent in AI development.
This revelation comes amid ongoing legal disputes between Musk and OpenAI.
In August 2024, Musk filed a lawsuit against OpenAI and its CEO, Sam Altman, alleging that the company had deviated from its original mission to develop AI for the public good.
The lawsuit contends that OpenAI’s shift toward a for-profit model and its partnership with Microsoft have compromised its foundational goals. Musk argues that these changes prioritize profit over the ethical development of AI technologies.
OpenAI has responded to these allegations by asserting that its for-profit structure is necessary to attract the resources required for advanced AI research.
The organization maintains that it remains committed to its mission of ensuring that artificial general intelligence benefits all of humanity.
The court proceedings continue to shed light on the complex dynamics between OpenAI’s leadership and its founding members. These developments raise important questions about the governance and ethical considerations in the rapidly evolving field of artificial intelligence.
Bitcoin Versus 
Leave a comment