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The Way Out: Why Founders Get The Boot So Often
Mint Mumbai
|November 21, 2023
OpenAI chief executive and founding team member Sam Altman was last week fired from the company he helped make famous. Many startup founders have been made to leave their companies. What's behind this trend? Mint explains.
1 Why was Altman asked to step down?
An official statement from the OpenAI board alleged that Altman was “not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities." Industry reports claimed differences in opinions between OpenAI’s board members, many of whom are also founding members, and Altman, were the key reason. The firm said the board didn’t have “confidence in (Altman)’s ability to continue leading OpenAI." However, key investors have since backed Altman. On Monday afternoon, Microsoft chairman Satya Nadella said Altman will “lead a new advanced AI research team" in MS.
2 Does a founder’s exit really matter?
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