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| It’s got a term - “garden leave” and yeah it was prevalent in finance. I say “was” because I think some states are changing laws wrt/ non-competes and this calling this practice into question. |
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| No, you're confusing stuff.
First of all, taking any code with you is theft, and you go to jail, like this poor Goldman Sachs programmer [1]. This will happen even if the code has no alpha. However, noone can prevent you from taking knowledge (i.e. your memories), so reimplementing alpha elsewhere is fine. Of course, the best alpha is that which cannot simply be replicated, e.g. it depends on proprietary datasets, proprietary hardware (e.g. fast links between exchanges), access to cheap capital, etc. What hedge funds used to do, is give you lengthy non-competes. 6months for junior staff, 1-2y for traders, 3y+ in case of Renaissance Technologies. In the US, that's now illegal and un-enforceable. So what hedge funds do now, is lengthy garden(ing) leaves. This means you still work for the company, you still earn a salary, and in some (many? all?) cases also the bonus. But you don't go to the office, you can't access any code, you don't see any trades. The company "moves on" (developes/refines its alpha, including your alpha - alpha you created) and you don't. These lengthy garden leaves replaced non-competes, so they're now 1y+. AFAIK they are enforceable, just as non-competes while being employed always have been. [1] https://nypost.com/2018/10/23/ex-goldman-programmer-sentence... |
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| I think you missed my proviso.
If you can do X in the first place, I don't think there's any general rule that you can't condition X on someone not signing a contract. |
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| A 90 days exercise window is standard (and there are tax implications as well in play).
OpenAI is different: they don’t grant options, but “Units” that are more like RSUs. |
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| The closest thing I've heard of is having to sign anti-disparagement clauses as part of severance when laid off; still pretty shitty, but taking back already vested equity would be on another level. |
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| > Then why did bother to have a meeting?
Because lawyers are in the business of managing risk, and knowing what OC was unhappy about was very much relevant to knowing if he presented a risk. |
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| You did well: there is never a rule against one-off contract. I can assure you the CEO has a one-off contract, and that lawyer has a one-off contract, at the very least :D |
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| Honestly I'm willing to give the benefit of the doubt on that, depending on their actions, because I'm sure they sign so many documents they just rely on their legal teams to ensure they're good. |
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| >Edit: Looks like they're doing the right thing here
That's like P.Diddy saying I'm sorry. That's damage control for being caught doing something bad ... again. |
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| Sure and anyone who has worked in a toxic workplace knows exactly what it means to require a direct path to leadership to resolve an issue instead of just resolving it. |
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| don't go public
don't contact OpenAI legal, which leaves an unsavory paper trail contact me directly, so we can talk privately on the phone and I can give you a little $$$ to shut you up |
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| Plenty of legitimate things to criticize EA for, no need to smear them by association with someone who's never claimed to be an EA and hasn't obviously behaved like one either. |
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| It shouldn't take a Vox article to ensure employees basic security over their compensation. The fact that this provision existed at all is exceptionally anti-employee. |
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| Money. The hype is really strong, the hype might even be justified, insane amounts of money flow in. There is a land grab going on. Blood is in the water, all the sharks are circling. |
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| After all that money, nobody can never even think of saying that it was wasted. To keep the investment value high and justifiable, they all agree and go on with the hype. Until the end. |
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| I recall that only some wanted him back, and the split was product/research—the “let’s get rich!” types wanted him back, the “let’s do AI!” types adamantly didn’t. |
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| And today: a post about Johansson's voice was on the front page with quite a high score, and then disappeared. This is not the place to discuss OpenAI. |
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| > Dang makes the (correct) assertion that people will much more easily game it if they know the intricacies.
Which is interesting, because it's sacrilege to insinuate that it's being gamed at all. |
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| They’re definitely doing this on comments too. I’ve had negative towards altman comments at the top dropped to below the negative voted ones in the past |
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| It's standard moderation on HN to downweight subthreads where the root comment is snarky, unsubstantive, or predictable. Most especially when it is unsubstantive + indignant. This is the most important thing we've figured out about improving thread quality in the last 10 years.
But it doesn't vary based on specific persons (not Sam or anyone else). Substantive criticism is fine, but predictable one-liners and that sort of thing are not what we want here—especially since they evoke even worse from others. The idea of HN is to have an internet forum—to the extent possible—where discussion remains intellectually interesting. The kind of comments we're talking about tend to choke all of that out, so downweighting them is very much in HN's critical path. https://hn.algolia.com/?dateRange=all&page=0&prefix=true&sor... |
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| Going to be hard to keep claiming you didn’t know something, if your signature is on it. I don’t really think a CEO gets to say he didn’t read what he was signing. |
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| PG is Altman's godfather more or less. I am disappoint of these OpenAI news as of late.
5. Sam Altman I was told I shouldn't mention founders of YC-funded companies in this list. But Sam Altman can't be stopped by such flimsy rules. If he wants to be on this list, he's going to be. Honestly, Sam is, along with Steve Jobs, the founder I refer to most when I'm advising startups. On questions of design, I ask "What would Steve do?" but on questions of strategy or ambition I ask "What would Sama do?" What I learned from meeting Sama is that the doctrine of the elect applies to startups. It applies way less than most people think: startup investing does not consist of trying to pick winners the way you might in a horse race. But there are a few people with such force of will that they're going to get whatever they want. https://[email protected]/5founders.html *edited link due to first post getting deleted |
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| The company that fails in even a simple good faith gesture in their employee aggreement, claims it is the only one who can handle AGI while government creating regulation to lock out open source. |
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| What surprises me about these stories surrounding openAI is how they apologize while lying and downplaying any blame. Do they expect anybody to believe they didn’t know about clawback clauses? |
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| Yeah, reading old threads is weird. The majority of everything is intact, but there's enough deleted or mangled comments that it is an effective minor inconvenience. |
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| Employees are replaceable, sure, but that doesn't mean that you can't squander your good will with competent employees and end up only being able to hire sub-par employees. |
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| Once you learn that online outrage doesn't actually impact your life that much, its easy to ignore. Gone are the days of public apologies and now we just sweep criticism under the rug and carry on. |
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| I'm not talking about grant-making case by case, but delegation authorization resolution itself. Delaware General Corporation Law has sections describing how it can be done. |
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| I wrote: Every legal clause that affects company ownership is accepted by the CEO and the board.
I did not write: Every legal clause is accepted by the CEO and the board. |
It's really easy to make people whole for this, so whether that happens or not is the difference between the apologies being real or just them just backpedaling because employees got upset.
Edit: Looks like they're doing the right thing here:
> Altman’s initial statement was criticized for doing too little to make things right for former employees, but in an emailed statement, OpenAI told me that “we are identifying and reaching out to former employees who signed a standard exit agreement to make it clear that OpenAI has not and will not cancel their vested equity and releases them from nondisparagement obligations” — which goes much further toward fixing their mistake.