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Groww, backed by Satya Nadella, set to become first Indian startup to go public after U.S.-to-India move | TechCrunch

Groww, backed by Satya Nadella, set to become first Indian startup to go public after U.S.-to-India move | TechCrunch

Groww, India’s largest retail brokerage firm, is set to test the country’s public markets with a multi-billion-dollar IPO. The listing comes comes just over a year after the company restructured its corporate headquarters from Delaware back to India — a move that could make it the first Indian startup to list at home following a relocation from the U.S.

Backed by Microsoft CEO Satya Nadella and marquee investors including Peak XV Partners, Y Combinator, Ribbit Capital, and Tiger Global, Groww’s listing — expected later this year — is set to double as a major exit opportunity for global venture funds. The four investment firms are offloading about 394 million shares — roughly 9.4% of Groww’s total equity base — per the draft IPO documents filed on Tuesday. That makes them the single largest selling bloc, accounting for about 69% of all shares being offered to the public.

Pine Labs, Razorpay, Meesho, and Zepto are among the Indian startups that have recently shifted their base back home. Walmart-backed PhonePe relocated its headquarters from Singapore to India in 2022, while Flipkart — once its parent and also backed by Walmart — similarly announced plans to move its headquarters from Singapore to India earlier this year.

Last year, Groww became one of the first startups to shift its headquarters back to India from the U.S. The startup paid around $159 million in taxes as part of the move.

Relocating their base back home helps startups align with evolving local regulations and meet requirements for domestic stock listings. It also makes sense to tap India’s public markets, given the expanding retail investor base and rising appetite for IPOs. The trend reflects the growing maturity and attractiveness of India’s capital markets compared to overseas alternatives.

While U.S. investors plan to offload a large chunk of their holdings in Groww, founders Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal together are selling only about 4 million shares — only 0.7% of the total offer for sale, per the draft prospectus.

The small sale signals that Groww’s founders are holding on to nearly all their equity, in contrast to the established investors who are using the IPO as an exit route.

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Groww plans to raise ₹10.6 billion (approximately $121 million) in new funding from the IPO, along with the secondary sale of 574 million shares by existing shareholders, expected to be priced at ₹5–6 billion (roughly $568–$682 million). The IPO is expected to value the Bengaluru-based company at $9 billion.

In the fiscal year ending March 31, Groww reported total income of ₹40.6 billion (about $462 million), up 45% year-on-year, with profit after tax of ₹18.2 billion (roughly $208 million). The startup had posted a net loss of about ₹8 billion (around $92 million) in the previous year, primarily due to expenses tied to its Delaware headquarters relocation.

As of June, Groww had about 37.4 million individual demat accounts (digital accounts that hold securities electronically), representing nearly 19% of India’s market, along with 12.6 million active clients on the National Stock Exchange, equal to a 26% share. The platform also counted around 17 million active systematic investment plans (SIPs, which are recurring monthly investments) and 9 million unique mutual fund investors, becoming the only investment app in the country to surpass 100 million cumulative downloads.

The offering is being advised by JPMorgan Chase, Kotak Mahindra Bank, Citigroup, Axis Bank and Motilal Oswal Investment Advisors.

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#Groww #backed #Satya #Nadella #set #Indian #startup #public #U.S.toIndia #move #TechCrunch

Today’s Wordle answer should be easy to solve if you don’t keep up with the latest trends.

If you just want to be told today’s word, you can jump to the bottom of this article for today’s Wordle solution revealed. But if you’d rather solve it yourself, keep reading for some clues, tips, and strategies to assist you.

Where did Wordle come from?

Originally created by engineer Josh Wardle as a gift for his partner, Wordle rapidly spread to become an international phenomenon, with thousands of people around the globe playing every day. Alternate Wordle versions created by fans also sprang up, including battle royale Squabble, music identification game Heardle, and variations like Dordle and Quordle that make you guess multiple words at once

Wordle eventually became so popular that it was purchased by the New York Times, and TikTok creators even livestream themselves playing.

What’s the best Wordle starting word?

The best Wordle starting word is the one that speaks to you. But if you prefer to be strategic in your approach, we have a few ideas to help you pick a word that might help you find the solution faster. One tip is to select a word that includes at least two different vowels, plus some common consonants like S, T, R, or N.

What happened to the Wordle archive?

The entire archive of past Wordle puzzles was originally available for anyone to enjoy whenever they felt like it, but it was later taken down, with the website’s creator stating it was done at the request of the New York Times. However, the New York Times then rolled out its own Wordle Archive, available only to NYT Games subscribers.

Is Wordle getting harder?

It might feel like Wordle is getting harder, but it actually isn’t any more difficult than when it first began. You can turn on Wordle‘s Hard Mode if you’re after more of a challenge, though.

Here’s a subtle hint for today’s Wordle answer:

Drab.

Mashable 101 Fan Fave: Vote for your favorite creators today

Does today’s Wordle answer have a double letter?

The letter D appears twice.

Today’s Wordle is a 5-letter word that starts with…

Today’s Wordle starts with the letter D.

The Wordle answer today is…

Get your last guesses in now, because it’s your final chance to solve today’s Wordle before we reveal the solution.

Drumroll please!

The solution to today’s Wordle is…

DOWDY

Don’t feel down if you didn’t manage to guess it this time. There will be a new Wordle for you to stretch your brain with tomorrow, and we’ll be back again to guide you with more helpful hints. Are you also playing NYT Strands? See hints and answers for today’s Strands.

Reporting by Chance Townsend, Caitlin Welsh, Sam Haysom, Amanda Yeo, Shannon Connellan, Cecily Mauran, Mike Pearl, and Adam Rosenberg contributed to this article.

If you’re looking for more puzzles, Mashable’s got games now! Check out our games hub for Mahjong, Sudoku, free crossword, and more.

Not the day you’re after? Here’s the solution to yesterday’s Wordle.

#Wordle #today #answer #hints">Wordle today: The answer and hints for May 13, 2026
                                            
                                                            Today’s Wordle answer should be easy to solve if you don’t keep up with the latest trends.If you just want to be told today’s word, you can jump to the bottom of this article for today’s Wordle solution revealed. But if you’d rather solve it yourself, keep reading for some clues, tips, and strategies to assist you.
        SEE ALSO:
        
            Mahjong, Sudoku, free crossword, and more: Play games on Mashable
            
        
    

        SEE ALSO:
        
            NYT Connections hints today: Clues, answers for May 13, 2026
            
        
    
Where did Wordle come from?Originally created by engineer Josh Wardle as a gift for his partner, Wordle rapidly spread to become an international phenomenon, with thousands of people around the globe playing every day. Alternate Wordle versions created by fans also sprang up, including battle royale Squabble, music identification game Heardle, and variations like Dordle and Quordle that make you guess multiple words at once. Wordle eventually became so popular that it was purchased by the New York Times, and TikTok creators even livestream themselves playing.What’s the best Wordle starting word?The best Wordle starting word is the one that speaks to you. But if you prefer to be strategic in your approach, we have a few ideas to help you pick a word that might help you find the solution faster. One tip is to select a word that includes at least two different vowels, plus some common consonants like S, T, R, or N.What happened to the Wordle archive?The entire archive of past Wordle puzzles was originally available for anyone to enjoy whenever they felt like it, but it was later taken down, with the website’s creator stating it was done at the request of the New York Times. However, the New York Times then rolled out its own Wordle Archive, available only to NYT Games subscribers. Is Wordle getting harder?It might feel like Wordle is getting harder, but it actually isn’t any more difficult than when it first began. You can turn on Wordle‘s Hard Mode if you’re after more of a challenge, though.
        SEE ALSO:
        
            NYT Pips hints, answers for May 13, 2026
            
        
    
Here’s a subtle hint for today’s Wordle answer:Drab.
        
            Mashable Top Stories
        
        
    
Mashable 101 Fan Fave: Vote for your favorite creators todayDoes today’s Wordle answer have a double letter?The letter D appears twice.Today’s Wordle is a 5-letter word that starts with…Today’s Wordle starts with the letter D.
        SEE ALSO:
        
            Wordle-obsessed? These are the best word games to play IRL.
            
        
    
The Wordle answer today is…Get your last guesses in now, because it’s your final chance to solve today’s Wordle before we reveal the solution.Drumroll please!The solution to today’s Wordle is…DOWDYDon’t feel down if you didn’t manage to guess it this time. There will be a new Wordle for you to stretch your brain with tomorrow, and we’ll be back again to guide you with more helpful hints. Are you also playing NYT Strands? See hints and answers for today’s Strands.Reporting by Chance Townsend, Caitlin Welsh, Sam Haysom, Amanda Yeo, Shannon Connellan, Cecily Mauran, Mike Pearl, and Adam Rosenberg contributed to this article.If you’re looking for more puzzles, Mashable’s got games now! Check out our games hub for Mahjong, Sudoku, free crossword, and more.Not the day you’re after? Here’s the solution to yesterday’s Wordle.

                    
                                            
                            
                        
                                    #Wordle #today #answer #hints

Wordle answer should be easy to solve if you don’t keep up with the latest trends.

If you just want to be told today’s word, you can jump to the bottom of this article for today’s Wordle solution revealed. But if you’d rather solve it yourself, keep reading for some clues, tips, and strategies to assist you.

Where did Wordle come from?

Originally created by engineer Josh Wardle as a gift for his partner, Wordle rapidly spread to become an international phenomenon, with thousands of people around the globe playing every day. Alternate Wordle versions created by fans also sprang up, including battle royale Squabble, music identification game Heardle, and variations like Dordle and Quordle that make you guess multiple words at once

Wordle eventually became so popular that it was purchased by the New York Times, and TikTok creators even livestream themselves playing.

What’s the best Wordle starting word?

The best Wordle starting word is the one that speaks to you. But if you prefer to be strategic in your approach, we have a few ideas to help you pick a word that might help you find the solution faster. One tip is to select a word that includes at least two different vowels, plus some common consonants like S, T, R, or N.

What happened to the Wordle archive?

The entire archive of past Wordle puzzles was originally available for anyone to enjoy whenever they felt like it, but it was later taken down, with the website’s creator stating it was done at the request of the New York Times. However, the New York Times then rolled out its own Wordle Archive, available only to NYT Games subscribers.

Is Wordle getting harder?

It might feel like Wordle is getting harder, but it actually isn’t any more difficult than when it first began. You can turn on Wordle‘s Hard Mode if you’re after more of a challenge, though.

Here’s a subtle hint for today’s Wordle answer:

Drab.

Mashable 101 Fan Fave: Vote for your favorite creators today

Does today’s Wordle answer have a double letter?

The letter D appears twice.

Today’s Wordle is a 5-letter word that starts with…

Today’s Wordle starts with the letter D.

The Wordle answer today is…

Get your last guesses in now, because it’s your final chance to solve today’s Wordle before we reveal the solution.

Drumroll please!

The solution to today’s Wordle is…

DOWDY

Don’t feel down if you didn’t manage to guess it this time. There will be a new Wordle for you to stretch your brain with tomorrow, and we’ll be back again to guide you with more helpful hints. Are you also playing NYT Strands? See hints and answers for today’s Strands.

Reporting by Chance Townsend, Caitlin Welsh, Sam Haysom, Amanda Yeo, Shannon Connellan, Cecily Mauran, Mike Pearl, and Adam Rosenberg contributed to this article.

If you’re looking for more puzzles, Mashable’s got games now! Check out our games hub for Mahjong, Sudoku, free crossword, and more.

Not the day you’re after? Here’s the solution to yesterday’s Wordle.

#Wordle #today #answer #hints">Wordle today: The answer and hints for May 13, 2026

Today’s Wordle answer should be easy to solve if you don’t keep up with the latest trends.

If you just want to be told today’s word, you can jump to the bottom of this article for today’s Wordle solution revealed. But if you’d rather solve it yourself, keep reading for some clues, tips, and strategies to assist you.

Where did Wordle come from?

Originally created by engineer Josh Wardle as a gift for his partner, Wordle rapidly spread to become an international phenomenon, with thousands of people around the globe playing every day. Alternate Wordle versions created by fans also sprang up, including battle royale Squabble, music identification game Heardle, and variations like Dordle and Quordle that make you guess multiple words at once

Wordle eventually became so popular that it was purchased by the New York Times, and TikTok creators even livestream themselves playing.

What’s the best Wordle starting word?

The best Wordle starting word is the one that speaks to you. But if you prefer to be strategic in your approach, we have a few ideas to help you pick a word that might help you find the solution faster. One tip is to select a word that includes at least two different vowels, plus some common consonants like S, T, R, or N.

What happened to the Wordle archive?

The entire archive of past Wordle puzzles was originally available for anyone to enjoy whenever they felt like it, but it was later taken down, with the website’s creator stating it was done at the request of the New York Times. However, the New York Times then rolled out its own Wordle Archive, available only to NYT Games subscribers.

Is Wordle getting harder?

It might feel like Wordle is getting harder, but it actually isn’t any more difficult than when it first began. You can turn on Wordle‘s Hard Mode if you’re after more of a challenge, though.

Here’s a subtle hint for today’s Wordle answer:

Drab.

Mashable 101 Fan Fave: Vote for your favorite creators today

Does today’s Wordle answer have a double letter?

The letter D appears twice.

Today’s Wordle is a 5-letter word that starts with…

Today’s Wordle starts with the letter D.

The Wordle answer today is…

Get your last guesses in now, because it’s your final chance to solve today’s Wordle before we reveal the solution.

Drumroll please!

The solution to today’s Wordle is…

DOWDY

Don’t feel down if you didn’t manage to guess it this time. There will be a new Wordle for you to stretch your brain with tomorrow, and we’ll be back again to guide you with more helpful hints. Are you also playing NYT Strands? See hints and answers for today’s Strands.

Reporting by Chance Townsend, Caitlin Welsh, Sam Haysom, Amanda Yeo, Shannon Connellan, Cecily Mauran, Mike Pearl, and Adam Rosenberg contributed to this article.

If you’re looking for more puzzles, Mashable’s got games now! Check out our games hub for Mahjong, Sudoku, free crossword, and more.

Not the day you’re after? Here’s the solution to yesterday’s Wordle.

#Wordle #today #answer #hints

After two weeks of hearing from assorted witnesses that he was a lying snake, the jury finally heard from the lying snake himself: Sam Altman. At the end of the testimony, his lawyer William Savitt asked him how it felt to be accused of stealing a charity.

“We created, through a ton of hard work, this extremely large charity, and I agree you can’t steal it,” Altman said. “Mr. Musk did try to kill it, I guess. Twice.”

Altman was fully in “nice kid from St. Louis” mode, and did a passable impression of a man who was bewildered at what was happening to him. When he stepped down from the stand holding a stack of evidence binders, he even looked a little like a schoolboy. He seemed nervous at the beginning of his direct testimony, though he warmed up fairly quickly. Overall, he seemed to give credible testimony — and at times, it seemed like the jury liked him.

Throughout this trial I’ve had some difficulty imagining what the jury is making of all this because I am a little too familiar with the figures who are testifying. I have heard some audacious lies under oath, like when Elon Musk told us all he doesn’t lose his temper. (He then proceeded to lose his temper on cross-examination.) Or like when Shivon Zilis, the mother of several of his children, told us that she didn’t know Musk was starting xAI — which seemed to be directly contradicted by her text messages. Or when Greg “What will take me to $1B?” Brockman told us he was all about the mission. I certainly believe Altman isn’t trustworthy — I mean, The New Yorker published more than 17,000 words about how much he lies. But unlike with Musk, there are contemporaneous documents backing Altman’s version of the story. At least, mostly.

“My belief is he wanted to have long-term control”

After OpenAI’s Dota 2 win, discussions for a for-profit arm started in earnest. “Mr. Musk felt very strongly that if we were going to form a for-profit he needed to have total control over it initially,” Altman said. “He only trusted himself to make non-obvious decisions that were going to turn out to be correct.”

Altman testified that he was uncomfortable with Musk’s insistence on control, not just because Musk hadn’t been as involved as everyone else, but because OpenAI existed so no one person would control AGI. And at Y Combinator, the startup incubator where he was president, Altman had seen a lot of control fights; no one wanted to give up power when things were going well. With structures like supervoting shares, founders could retain control forever. Curiously, Altman’s example was not the most famous one (Mark Zuckerberg at Meta); it was Musk and SpaceX. When Altman asked Musk about succession plans for OpenAI, he got a particularly “hair-raising” answer: In the event of Musk’s death, Musk said, “I haven’t thought about it a ton, but maybe control should pass to my children.”

I don’t know about that. But I do know that I saw a 2017 email from Altman to Zilis in which he wrote, “I am worried about control. I don’t think any one person should have control of the world’s first AGI — in fact the whole reason we started OpenAI was so that wouldn’t happen.” He went on to say that he didn’t mind the idea of immediate control and was open to “creative structures” — which I understood to mean that, in order to placate Musk, Altman was willing to give him control up to specific milestones in company development.

“I read a vague, like, a lightweight threat in there”

“My belief is he wanted to have long-term control and that he would’ve had that had we agreed to the structure he wanted,” Altman said on the stand. This sounds basically right. In later video testimony from Sam Teller’s deposition, we heard that Musk no longer invests in anything he doesn’t control. This also fits with Musk’s long-term fixation on making sure he can’t get booted from his own company the way he got booted from PayPal.

Musk also tried to recruit Altman to Tesla. We saw texts between Altman and Teller, in which Teller told Altman that Musk was committed to beefing up Tesla’s AI no matter what, and that he hoped that Altman, Brockman, and Ilya Sutskever would want to join eventually. “I read a vague, like, a lightweight threat in there, that he’s gonna do this inside of Tesla with or without you,” Altman said. But he felt that Tesla was primarily a car company — allowing it to acquire OpenAI would betray OpenAI’s mission.

Later, in Teller’s testimony, we saw texts Teller sent to Zilis at 12:40AM on February 4th, 2018: “I don’t love OpenAI continuing without Elon,” he wrote. “Would rather disable it by recruiting the leaders.”

When Musk stopped his quarterly donations, OpenAI was operating on a “shoestring” with an “extremely short runway of cash.” OpenAI did have other donors, none of whom have sued it or joined Musk’s suit. (One donor in the exhibit that wasn’t called out to the courtroom was Alameda Research, the firm owned by Sam Bankman-Fried, who is now in prison for fraud and money laundering.) Musk’s resignation from the board meant “people wondered if he was gonna try to take, uh, vengeance out on us or something.” On the other hand, Altman said Musk had “demotivated some of our key researchers” and done “huge damage for a long time to the culture of the organization.” So it sure seems like some people were relieved to be rid of him.

I’ve seen some fairly shoddy lawyering from Musk’s side throughout this trial

We saw a lot of evidence that throughout the time Altman was setting up OpenAI’s for-profit arm, he kept Musk apprised of what was going on, either directly or through Zilis or Teller. At no point did Musk object, and whatever he said publicly about the Microsoft investments, there was plenty of evidence that privately he’d been made aware.

On the cross-examination, we were treated to more than 10 minutes of Steven Molo telling Altman that various and assorted people had called him a liar: Sutskever, Mira Murati, Helen Toner, Tasha McCauley, Daniela and Dario Amodei (former OpenAI employees and founders of Anthropic), employees at Altman’s first startup Loopt, that recent New Yorker article, a book called The Optimist, etc. Molo did score some points by asking Altman about testimony in the trial, which Altman said he wasn’t paying close attention to. Molo acted as though this was inconceivable. Surely someone had informed Altman of what was said?

It was a little funny and also a little tiresome. Altman kept his cool, though, seeming hurt and confused by the focus on whether he was a liar. It was also the most successful part of the cross, which declined in focus precipitously afterward. I’ve seen some fairly shoddy lawyering from Musk’s side throughout this trial, and today was pretty bad. At one point, when Molo was trying to capitalize on Altman being both CEO and on the company’s board, Altman said — truthfully — that CEOs are almost always on the boards of the companies they run.

(At this point in my notes, I had written, “Boy, Molo is not very good at this.”)

The point of this trial isn’t to win — it’s to punish Altman, Brockman, and OpenAI

There was also an unconvincing argument about fundraising in nonprofits, specifically that if Stanford could raise $3 billion a year, OpenAI should have remained a nonprofit. Okay, let’s just think about that for a minute. Stanford has a donor network of thousands of graduates. It’s a school, which has very different capital requirements. It is not competing with any reputable for-profit companies. But leave that all aside and assume that some fundraising genius took over at the OpenAI Foundation: $3 billion is the initial two Microsoft investments combined, and not enough to scale OpenAI to where it is now. If compute is the main bottleneck on building AI models, then Molo’s line of argument suggests OpenAI never would have managed to be successful as a nonprofit alone. He’s making the defense’s case for them.

But the thing is, Molo doesn’t actually have to be good at this job, because the point of this trial isn’t to win — though I’m sure Musk wouldn’t mind a win. The point is to punish Altman, Brockman, and OpenAI. Musk has done that pretty thoroughly — reinforcing in the public’s mind that Altman is a liar and a snake. This morning, I read an exclusive in The Wall Street Journal that assorted Republican AGs and the House Oversight committee wanted to look into Sam Altman’s investments. References to the trial are peppered throughout the article.

So yes, Altman was convincing on the stand. He may even win the suit. But it sure seems like Musk’s vengeance has just begun.

Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
#Sam #Altman #winning #standAI,OpenAI">Sam Altman was winning on the stand, but it might not be enoughAfter two weeks of hearing from assorted witnesses that he was a lying snake, the jury finally heard from the lying snake himself: Sam Altman. At the end of the testimony, his lawyer William Savitt asked him how it felt to be accused of stealing a charity.“We created, through a ton of hard work, this extremely large charity, and I agree you can’t steal it,” Altman said. “Mr. Musk did try to kill it, I guess. Twice.”Altman was fully in “nice kid from St. Louis” mode, and did a passable impression of a man who was bewildered at what was happening to him. When he stepped down from the stand holding a stack of evidence binders, he even looked a little like a schoolboy. He seemed nervous at the beginning of his direct testimony, though he warmed up fairly quickly. Overall, he seemed to give credible testimony — and at times, it seemed like the jury liked him.Throughout this trial I’ve had some difficulty imagining what the jury is making of all this because I am a little too familiar with the figures who are testifying. I have heard some audacious lies under oath, like when Elon Musk told us all he doesn’t lose his temper. (He then proceeded to lose his temper on cross-examination.) Or like when Shivon Zilis, the mother of several of his children, told us that she didn’t know Musk was starting xAI — which seemed to be directly contradicted by her text messages. Or when Greg “What will take me to B?” Brockman told us he was all about the mission. I certainly believe Altman isn’t trustworthy — I mean, The New Yorker published more than 17,000 words about how much he lies. But unlike with Musk, there are contemporaneous documents backing Altman’s version of the story. At least, mostly.“My belief is he wanted to have long-term control”After OpenAI’s Dota 2 win, discussions for a for-profit arm started in earnest. “Mr. Musk felt very strongly that if we were going to form a for-profit he needed to have total control over it initially,” Altman said. “He only trusted himself to make non-obvious decisions that were going to turn out to be correct.”Altman testified that he was uncomfortable with Musk’s insistence on control, not just because Musk hadn’t been as involved as everyone else, but because OpenAI existed so no one person would control AGI. And at Y Combinator, the startup incubator where he was president, Altman had seen a lot of control fights; no one wanted to give up power when things were going well. With structures like supervoting shares, founders could retain control forever. Curiously, Altman’s example was not the most famous one (Mark Zuckerberg at Meta); it was Musk and SpaceX. When Altman asked Musk about succession plans for OpenAI, he got a particularly “hair-raising” answer: In the event of Musk’s death, Musk said, “I haven’t thought about it a ton, but maybe control should pass to my children.”I don’t know about that. But I do know that I saw a 2017 email from Altman to Zilis in which he wrote, “I am worried about control. I don’t think any one person should have control of the world’s first AGI — in fact the whole reason we started OpenAI was so that wouldn’t happen.” He went on to say that he didn’t mind the idea of immediate control and was open to “creative structures” — which I understood to mean that, in order to placate Musk, Altman was willing to give him control up to specific milestones in company development.“I read a vague, like, a lightweight threat in there”“My belief is he wanted to have long-term control and that he would’ve had that had we agreed to the structure he wanted,” Altman said on the stand. This sounds basically right. In later video testimony from Sam Teller’s deposition, we heard that Musk no longer invests in anything he doesn’t control. This also fits with Musk’s long-term fixation on making sure he can’t get booted from his own company the way he got booted from PayPal.Musk also tried to recruit Altman to Tesla. We saw texts between Altman and Teller, in which Teller told Altman that Musk was committed to beefing up Tesla’s AI no matter what, and that he hoped that Altman, Brockman, and Ilya Sutskever would want to join eventually. “I read a vague, like, a lightweight threat in there, that he’s gonna do this inside of Tesla with or without you,” Altman said. But he felt that Tesla was primarily a car company — allowing it to acquire OpenAI would betray OpenAI’s mission.Later, in Teller’s testimony, we saw texts Teller sent to Zilis at 12:40AM on February 4th, 2018: “I don’t love OpenAI continuing without Elon,” he wrote. “Would rather disable it by recruiting the leaders.”When Musk stopped his quarterly donations, OpenAI was operating on a “shoestring” with an “extremely short runway of cash.” OpenAI did have other donors, none of whom have sued it or joined Musk’s suit. (One donor in the exhibit that wasn’t called out to the courtroom was Alameda Research, the firm owned by Sam Bankman-Fried, who is now in prison for fraud and money laundering.) Musk’s resignation from the board meant “people wondered if he was gonna try to take, uh, vengeance out on us or something.” On the other hand, Altman said Musk had “demotivated some of our key researchers” and done “huge damage for a long time to the culture of the organization.” So it sure seems like some people were relieved to be rid of him.I’ve seen some fairly shoddy lawyering from Musk’s side throughout this trialWe saw a lot of evidence that throughout the time Altman was setting up OpenAI’s for-profit arm, he kept Musk apprised of what was going on, either directly or through Zilis or Teller. At no point did Musk object, and whatever he said publicly about the Microsoft investments, there was plenty of evidence that privately he’d been made aware.On the cross-examination, we were treated to more than 10 minutes of Steven Molo telling Altman that various and assorted people had called him a liar: Sutskever, Mira Murati, Helen Toner, Tasha McCauley, Daniela and Dario Amodei (former OpenAI employees and founders of Anthropic), employees at Altman’s first startup Loopt, that recent New Yorker article, a book called The Optimist, etc. Molo did score some points by asking Altman about testimony in the trial, which Altman said he wasn’t paying close attention to. Molo acted as though this was inconceivable. Surely someone had informed Altman of what was said?It was a little funny and also a little tiresome. Altman kept his cool, though, seeming hurt and confused by the focus on whether he was a liar. It was also the most successful part of the cross, which declined in focus precipitously afterward. I’ve seen some fairly shoddy lawyering from Musk’s side throughout this trial, and today was pretty bad. At one point, when Molo was trying to capitalize on Altman being both CEO and on the company’s board, Altman said — truthfully — that CEOs are almost always on the boards of the companies they run.(At this point in my notes, I had written, “Boy, Molo is not very good at this.”)The point of this trial isn’t to win — it’s to punish Altman, Brockman, and OpenAIThere was also an unconvincing argument about fundraising in nonprofits, specifically that if Stanford could raise  billion a year, OpenAI should have remained a nonprofit. Okay, let’s just think about that for a minute. Stanford has a donor network of thousands of graduates. It’s a school, which has very different capital requirements. It is not competing with any reputable for-profit companies. But leave that all aside and assume that some fundraising genius took over at the OpenAI Foundation:  billion is the initial two Microsoft investments combined, and not enough to scale OpenAI to where it is now. If compute is the main bottleneck on building AI models, then Molo’s line of argument suggests OpenAI never would have managed to be successful as a nonprofit alone. He’s making the defense’s case for them.But the thing is, Molo doesn’t actually have to be good at this job, because the point of this trial isn’t to win — though I’m sure Musk wouldn’t mind a win. The point is to punish Altman, Brockman, and OpenAI. Musk has done that pretty thoroughly — reinforcing in the public’s mind that Altman is a liar and a snake. This morning, I read an exclusive in The Wall Street Journal that assorted Republican AGs and the House Oversight committee wanted to look into Sam Altman’s investments. References to the trial are peppered throughout the article.So yes, Altman was convincing on the stand. He may even win the suit. But it sure seems like Musk’s vengeance has just begun.Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.Elizabeth LopattoCloseElizabeth LopattoPosts from this author will be added to your daily email digest and your homepage feed.FollowFollowSee All by Elizabeth LopattoAICloseAIPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All AIOpenAICloseOpenAIPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All OpenAI#Sam #Altman #winning #standAI,OpenAI

Elon Musk told us all he doesn’t lose his temper. (He then proceeded to lose his temper on cross-examination.) Or like when Shivon Zilis, the mother of several of his children, told us that she didn’t know Musk was starting xAI — which seemed to be directly contradicted by her text messages. Or when Greg “What will take me to $1B?” Brockman told us he was all about the mission. I certainly believe Altman isn’t trustworthy — I mean, The New Yorker published more than 17,000 words about how much he lies. But unlike with Musk, there are contemporaneous documents backing Altman’s version of the story. At least, mostly.

“My belief is he wanted to have long-term control”

After OpenAI’s Dota 2 win, discussions for a for-profit arm started in earnest. “Mr. Musk felt very strongly that if we were going to form a for-profit he needed to have total control over it initially,” Altman said. “He only trusted himself to make non-obvious decisions that were going to turn out to be correct.”

Altman testified that he was uncomfortable with Musk’s insistence on control, not just because Musk hadn’t been as involved as everyone else, but because OpenAI existed so no one person would control AGI. And at Y Combinator, the startup incubator where he was president, Altman had seen a lot of control fights; no one wanted to give up power when things were going well. With structures like supervoting shares, founders could retain control forever. Curiously, Altman’s example was not the most famous one (Mark Zuckerberg at Meta); it was Musk and SpaceX. When Altman asked Musk about succession plans for OpenAI, he got a particularly “hair-raising” answer: In the event of Musk’s death, Musk said, “I haven’t thought about it a ton, but maybe control should pass to my children.”

I don’t know about that. But I do know that I saw a 2017 email from Altman to Zilis in which he wrote, “I am worried about control. I don’t think any one person should have control of the world’s first AGI — in fact the whole reason we started OpenAI was so that wouldn’t happen.” He went on to say that he didn’t mind the idea of immediate control and was open to “creative structures” — which I understood to mean that, in order to placate Musk, Altman was willing to give him control up to specific milestones in company development.

“I read a vague, like, a lightweight threat in there”

“My belief is he wanted to have long-term control and that he would’ve had that had we agreed to the structure he wanted,” Altman said on the stand. This sounds basically right. In later video testimony from Sam Teller’s deposition, we heard that Musk no longer invests in anything he doesn’t control. This also fits with Musk’s long-term fixation on making sure he can’t get booted from his own company the way he got booted from PayPal.

Musk also tried to recruit Altman to Tesla. We saw texts between Altman and Teller, in which Teller told Altman that Musk was committed to beefing up Tesla’s AI no matter what, and that he hoped that Altman, Brockman, and Ilya Sutskever would want to join eventually. “I read a vague, like, a lightweight threat in there, that he’s gonna do this inside of Tesla with or without you,” Altman said. But he felt that Tesla was primarily a car company — allowing it to acquire OpenAI would betray OpenAI’s mission.

Later, in Teller’s testimony, we saw texts Teller sent to Zilis at 12:40AM on February 4th, 2018: “I don’t love OpenAI continuing without Elon,” he wrote. “Would rather disable it by recruiting the leaders.”

When Musk stopped his quarterly donations, OpenAI was operating on a “shoestring” with an “extremely short runway of cash.” OpenAI did have other donors, none of whom have sued it or joined Musk’s suit. (One donor in the exhibit that wasn’t called out to the courtroom was Alameda Research, the firm owned by Sam Bankman-Fried, who is now in prison for fraud and money laundering.) Musk’s resignation from the board meant “people wondered if he was gonna try to take, uh, vengeance out on us or something.” On the other hand, Altman said Musk had “demotivated some of our key researchers” and done “huge damage for a long time to the culture of the organization.” So it sure seems like some people were relieved to be rid of him.

I’ve seen some fairly shoddy lawyering from Musk’s side throughout this trial

We saw a lot of evidence that throughout the time Altman was setting up OpenAI’s for-profit arm, he kept Musk apprised of what was going on, either directly or through Zilis or Teller. At no point did Musk object, and whatever he said publicly about the Microsoft investments, there was plenty of evidence that privately he’d been made aware.

On the cross-examination, we were treated to more than 10 minutes of Steven Molo telling Altman that various and assorted people had called him a liar: Sutskever, Mira Murati, Helen Toner, Tasha McCauley, Daniela and Dario Amodei (former OpenAI employees and founders of Anthropic), employees at Altman’s first startup Loopt, that recent New Yorker article, a book called The Optimist, etc. Molo did score some points by asking Altman about testimony in the trial, which Altman said he wasn’t paying close attention to. Molo acted as though this was inconceivable. Surely someone had informed Altman of what was said?

It was a little funny and also a little tiresome. Altman kept his cool, though, seeming hurt and confused by the focus on whether he was a liar. It was also the most successful part of the cross, which declined in focus precipitously afterward. I’ve seen some fairly shoddy lawyering from Musk’s side throughout this trial, and today was pretty bad. At one point, when Molo was trying to capitalize on Altman being both CEO and on the company’s board, Altman said — truthfully — that CEOs are almost always on the boards of the companies they run.

(At this point in my notes, I had written, “Boy, Molo is not very good at this.”)

The point of this trial isn’t to win — it’s to punish Altman, Brockman, and OpenAI

There was also an unconvincing argument about fundraising in nonprofits, specifically that if Stanford could raise $3 billion a year, OpenAI should have remained a nonprofit. Okay, let’s just think about that for a minute. Stanford has a donor network of thousands of graduates. It’s a school, which has very different capital requirements. It is not competing with any reputable for-profit companies. But leave that all aside and assume that some fundraising genius took over at the OpenAI Foundation: $3 billion is the initial two Microsoft investments combined, and not enough to scale OpenAI to where it is now. If compute is the main bottleneck on building AI models, then Molo’s line of argument suggests OpenAI never would have managed to be successful as a nonprofit alone. He’s making the defense’s case for them.

But the thing is, Molo doesn’t actually have to be good at this job, because the point of this trial isn’t to win — though I’m sure Musk wouldn’t mind a win. The point is to punish Altman, Brockman, and OpenAI. Musk has done that pretty thoroughly — reinforcing in the public’s mind that Altman is a liar and a snake. This morning, I read an exclusive in The Wall Street Journal that assorted Republican AGs and the House Oversight committee wanted to look into Sam Altman’s investments. References to the trial are peppered throughout the article.

So yes, Altman was convincing on the stand. He may even win the suit. But it sure seems like Musk’s vengeance has just begun.

Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.

#Sam #Altman #winning #standAI,OpenAI">Sam Altman was winning on the stand, but it might not be enough

After two weeks of hearing from assorted witnesses that he was a lying snake, the jury finally heard from the lying snake himself: Sam Altman. At the end of the testimony, his lawyer William Savitt asked him how it felt to be accused of stealing a charity.

“We created, through a ton of hard work, this extremely large charity, and I agree you can’t steal it,” Altman said. “Mr. Musk did try to kill it, I guess. Twice.”

Altman was fully in “nice kid from St. Louis” mode, and did a passable impression of a man who was bewildered at what was happening to him. When he stepped down from the stand holding a stack of evidence binders, he even looked a little like a schoolboy. He seemed nervous at the beginning of his direct testimony, though he warmed up fairly quickly. Overall, he seemed to give credible testimony — and at times, it seemed like the jury liked him.

Throughout this trial I’ve had some difficulty imagining what the jury is making of all this because I am a little too familiar with the figures who are testifying. I have heard some audacious lies under oath, like when Elon Musk told us all he doesn’t lose his temper. (He then proceeded to lose his temper on cross-examination.) Or like when Shivon Zilis, the mother of several of his children, told us that she didn’t know Musk was starting xAI — which seemed to be directly contradicted by her text messages. Or when Greg “What will take me to $1B?” Brockman told us he was all about the mission. I certainly believe Altman isn’t trustworthy — I mean, The New Yorker published more than 17,000 words about how much he lies. But unlike with Musk, there are contemporaneous documents backing Altman’s version of the story. At least, mostly.

“My belief is he wanted to have long-term control”

After OpenAI’s Dota 2 win, discussions for a for-profit arm started in earnest. “Mr. Musk felt very strongly that if we were going to form a for-profit he needed to have total control over it initially,” Altman said. “He only trusted himself to make non-obvious decisions that were going to turn out to be correct.”

Altman testified that he was uncomfortable with Musk’s insistence on control, not just because Musk hadn’t been as involved as everyone else, but because OpenAI existed so no one person would control AGI. And at Y Combinator, the startup incubator where he was president, Altman had seen a lot of control fights; no one wanted to give up power when things were going well. With structures like supervoting shares, founders could retain control forever. Curiously, Altman’s example was not the most famous one (Mark Zuckerberg at Meta); it was Musk and SpaceX. When Altman asked Musk about succession plans for OpenAI, he got a particularly “hair-raising” answer: In the event of Musk’s death, Musk said, “I haven’t thought about it a ton, but maybe control should pass to my children.”

I don’t know about that. But I do know that I saw a 2017 email from Altman to Zilis in which he wrote, “I am worried about control. I don’t think any one person should have control of the world’s first AGI — in fact the whole reason we started OpenAI was so that wouldn’t happen.” He went on to say that he didn’t mind the idea of immediate control and was open to “creative structures” — which I understood to mean that, in order to placate Musk, Altman was willing to give him control up to specific milestones in company development.

“I read a vague, like, a lightweight threat in there”

“My belief is he wanted to have long-term control and that he would’ve had that had we agreed to the structure he wanted,” Altman said on the stand. This sounds basically right. In later video testimony from Sam Teller’s deposition, we heard that Musk no longer invests in anything he doesn’t control. This also fits with Musk’s long-term fixation on making sure he can’t get booted from his own company the way he got booted from PayPal.

Musk also tried to recruit Altman to Tesla. We saw texts between Altman and Teller, in which Teller told Altman that Musk was committed to beefing up Tesla’s AI no matter what, and that he hoped that Altman, Brockman, and Ilya Sutskever would want to join eventually. “I read a vague, like, a lightweight threat in there, that he’s gonna do this inside of Tesla with or without you,” Altman said. But he felt that Tesla was primarily a car company — allowing it to acquire OpenAI would betray OpenAI’s mission.

Later, in Teller’s testimony, we saw texts Teller sent to Zilis at 12:40AM on February 4th, 2018: “I don’t love OpenAI continuing without Elon,” he wrote. “Would rather disable it by recruiting the leaders.”

When Musk stopped his quarterly donations, OpenAI was operating on a “shoestring” with an “extremely short runway of cash.” OpenAI did have other donors, none of whom have sued it or joined Musk’s suit. (One donor in the exhibit that wasn’t called out to the courtroom was Alameda Research, the firm owned by Sam Bankman-Fried, who is now in prison for fraud and money laundering.) Musk’s resignation from the board meant “people wondered if he was gonna try to take, uh, vengeance out on us or something.” On the other hand, Altman said Musk had “demotivated some of our key researchers” and done “huge damage for a long time to the culture of the organization.” So it sure seems like some people were relieved to be rid of him.

I’ve seen some fairly shoddy lawyering from Musk’s side throughout this trial

We saw a lot of evidence that throughout the time Altman was setting up OpenAI’s for-profit arm, he kept Musk apprised of what was going on, either directly or through Zilis or Teller. At no point did Musk object, and whatever he said publicly about the Microsoft investments, there was plenty of evidence that privately he’d been made aware.

On the cross-examination, we were treated to more than 10 minutes of Steven Molo telling Altman that various and assorted people had called him a liar: Sutskever, Mira Murati, Helen Toner, Tasha McCauley, Daniela and Dario Amodei (former OpenAI employees and founders of Anthropic), employees at Altman’s first startup Loopt, that recent New Yorker article, a book called The Optimist, etc. Molo did score some points by asking Altman about testimony in the trial, which Altman said he wasn’t paying close attention to. Molo acted as though this was inconceivable. Surely someone had informed Altman of what was said?

It was a little funny and also a little tiresome. Altman kept his cool, though, seeming hurt and confused by the focus on whether he was a liar. It was also the most successful part of the cross, which declined in focus precipitously afterward. I’ve seen some fairly shoddy lawyering from Musk’s side throughout this trial, and today was pretty bad. At one point, when Molo was trying to capitalize on Altman being both CEO and on the company’s board, Altman said — truthfully — that CEOs are almost always on the boards of the companies they run.

(At this point in my notes, I had written, “Boy, Molo is not very good at this.”)

The point of this trial isn’t to win — it’s to punish Altman, Brockman, and OpenAI

There was also an unconvincing argument about fundraising in nonprofits, specifically that if Stanford could raise $3 billion a year, OpenAI should have remained a nonprofit. Okay, let’s just think about that for a minute. Stanford has a donor network of thousands of graduates. It’s a school, which has very different capital requirements. It is not competing with any reputable for-profit companies. But leave that all aside and assume that some fundraising genius took over at the OpenAI Foundation: $3 billion is the initial two Microsoft investments combined, and not enough to scale OpenAI to where it is now. If compute is the main bottleneck on building AI models, then Molo’s line of argument suggests OpenAI never would have managed to be successful as a nonprofit alone. He’s making the defense’s case for them.

But the thing is, Molo doesn’t actually have to be good at this job, because the point of this trial isn’t to win — though I’m sure Musk wouldn’t mind a win. The point is to punish Altman, Brockman, and OpenAI. Musk has done that pretty thoroughly — reinforcing in the public’s mind that Altman is a liar and a snake. This morning, I read an exclusive in The Wall Street Journal that assorted Republican AGs and the House Oversight committee wanted to look into Sam Altman’s investments. References to the trial are peppered throughout the article.

So yes, Altman was convincing on the stand. He may even win the suit. But it sure seems like Musk’s vengeance has just begun.

Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
#Sam #Altman #winning #standAI,OpenAI

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