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Sam Altman Left OpenAI for Microsoft: What It Means for Worldcoin Price
11/20/2023

Sam Altman Left OpenAI for Microsoft: What It Means for Worldcoin Price

11/20/2023
4,5

The price of Worldcoin fell dramatically following the news of Sam Altman's unexpected dismissal as CEO of OpenAI. Here's what happened.

The drama of Sam Altman's firing

On Friday, November 17, OpenAI unexpectedly announced the firing of CEO Sam Altman. Two days later, the board of directors confirmed their decision by appointing former Twitch CEO Emmett Shear to the position. The decision was so shocking and sudden that many of Altman's colleagues and major OpenAI investors sided with Altman.

According to a report from Greg Brockman, who also left his position at OpenAI, Altman was scheduled to meet Friday evening with OpenAI Research Fellow Ilya Sutskever. Brockman also indicated that the company's chief technology officer, Mira Murati, was already aware of Altman's impending dismissal. 

On Friday, November 17, Brockman received a message from Sutskever asking him to attend the upcoming meeting, but minutes later received another message stating that Altman had been fired and Brockman himself would be removed from the board of directors.

A little later, OpenAI publicly announced Altman's dismissal for not being completely honest with the board. However, rumors suggest an unresolved disagreement between Altman and the board: Altman wanted to put more effort into AI development, while his team saw it as a danger. The blog post also said that Mira Murati will temporarily take over as CEO. Bloomberg said that the news of Sam's departure came as a complete surprise to him as well.

The announcement sparked a flurry of criticism of OpenAI. People close to the issue said that the board did not make OpenAI's major investor, technology giant Microsoft, aware of its decision. The move infuriated the current Microsoft management, but in an official statement, Satya Nadella only mentioned that the decision will not affect the markets and Microsoft will still remain an investor in OpenAI. Reports have also surfaced that other OpenAI investors are looking for ways to get rid of the company's shares. Meanwhile, Elon Musk, an early investor in OpenAI, demanded that the board reveal the real reason for Altman's dismissal, hinting at ulterior motives in his tweet.

Following Altman, Greg Brockman (as he himself stated in his post), Head of Readiness Alexander Madfrey and Research Director Jakub Pachocki left the company.


As it turned out, the company's employees were not made aware of Sam Altman's dismissal. On November 18, this was confirmed by OpenAI Chief Operating Officer Brad Lightcap. On the same day, it became known that Altman was discussing a new AI-based project with investors. Meanwhile, Microsoft's entire management team was in a frenzy, demanding that OpenAI bring Sam Altman back as CEO. The board of directors agreed to bring back Altman and Brockman.

On November 19, according to Altman's X post, he visited OpenAI headquarters for talks. Some sources began writing about Microsoft possibly getting a board seat or a non-voting third-party observer if Altman returned. Altman himself demanded the resignation of some board members and insisted on a public statement of apology from them. Whether Altman was referring to Ilya Sutskever, since he was the one who organized the dismissal (and was rumored to be on bad terms with Altman), is unknown. However, as it turned out, the negotiations were unsuccessful: the board of directors refused to compromise and appointed a new CEO of OpenAI. Emmett Shear, the former CEO of Twitch, became the new CEO. 


On November 20, Satya Nadella, CEO of Microsoft, added Altman and Brockman to the new AI research team.

What's going on with Worldcoin?

Worldcoin, the cryptocurrency brainchild of Sam Altman, has reacted immediately to the drama of Altman's dismissal from OpenAI. The chart below shows the dramatic price movements over the past few days:

Source & Copyright TradingView

As recently as Thursday, the price of WLD was at $2.5, but dropped to $1.8 on Saturday afternoon. Monday morning, November 20, the token reached $2.7, probably reacting to the news that Altman and Brockman had joined Microsoft. 

Despite previously being met negatively by regulators in some countries, the project continues to see strong adoption. The team reported over 4 million downloads of the World app with 1 million monthly active users. 

Meanwhile, news of Altman's dismissal caused a surge in the prices of other AI sector tokens. Fetch.ai (FET), SingularityNET (AGIX), and The Graph (GRT), brought 3% to 16% daily gains.

Summarizing the whole drama, Altman wrote, "The mission continues."


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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

Elon Musk Sam Altman


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