Global fintech and funding innovation ecosystem

What Startup Rules Did Sam Altman Break During OpenAI’s Path to Its $30B Valuation?

Fortune | Steve Mollman | May 6, 2023

When it comes to artificial intelligence, Silicon Valley’s standard advice for startups might not apply.

Breaking the rules - What Startup Rules Did Sam Altman Break During OpenAI's Path to Its $30B Valuation?

  • OpenAI, established in 2015, creators of ChatGPT and GPT-4, now boasts a valuation of nearly $30 billion. CEO Sam Altman, former head of Y Combinator, shared insights on the AI venture's unconventional rise to success during a recent Stripe-hosted fireside chat.
  • Took 4.5 years to launch a product
  • Most capital-intensive startup in Silicon Valley history

See:  Successful Founders Weigh In: 10 Key Things to Do When Starting A New Venture

  • Built technology without knowing target customers or use cases
  • No social features or built-in sharing in chatgpt
  • Required sign-up before use, no inherent viral loop
  • Disregarded potential investors' criticisms
  • Focused on technology rather than solving a specific problem
  • Explored various ideas for GPT-3 and GPT-4 without committing to one domain (e.g., medical or legal)

Continue to the full article --> here


NCFA Jan 2018 resize - What Startup Rules Did Sam Altman Break During OpenAI's Path to Its $30B Valuation?The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - What Startup Rules Did Sam Altman Break During OpenAI's Path to Its $30B Valuation?FF Logo 400 v3 - What Startup Rules Did Sam Altman Break During OpenAI's Path to Its $30B Valuation?community social impact - What Startup Rules Did Sam Altman Break During OpenAI's Path to Its $30B Valuation?

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - What Startup Rules Did Sam Altman Break During OpenAI's Path to Its $30B Valuation?




 

Leave a Reply

Your email address will not be published. Required fields are marked *

14 + 14 =