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Founder's Journal

Avoiding an OpenAI Fiasco by Successfully Building Your Board

Founder's Journal

Morning Brew

Careers, Business, Entrepreneurship

4.81.1K Ratings

🗓️ 20 November 2023

⏱️ 42 minutes

🧾️ Download transcript

Summary

Episode 70: Alex Lieberman (@businessbarista) and guest Brett Adcock (@adcock_brett), discuss how to successfully build a startup board. Brett is a serial entrepreneur who has raised over $1 billion of venture capital and has constructed four boards during his career. He is currently building Figure, an AI robotics company, and before Figure, he built Archer, an electric vertical takeoff and landing business that was taken public via SPAC. Brett also founded Vettery, which sold to Adecco for $100 million. Brett shares his thoughts on boards and what founders must think about to intentionally build one. OpenAI Leadership Announcement: https://openai.com/blog/openai-announces-leadership-transition Sam Altman Board Post: https://blog.samaltman.com/board-members How to Create and Manage a Board: https://www.ycombinator.com/library/3w-how-to-create-and-manage-a-board Send us an email and let us know what you think of the idea! foundersjournal@morningbrew.com Grow more (and stress less) with Brex: brex.com/foundersjournal #FoundersJournal #Startups #Entrepreneur Listen to Founder’s Journal here: https://link.chtbl.com/OV4W93_W Watch Founder’s Journal here: https://www.youtube.com/@FoundersJournal/ Subscribe to Morning Brew! Sign up for free today: https://bit.ly/morningbrewyt Follow The Brew! Instagram - https://www.instagram.com/morningbrew/ Twitter - https://twitter.com/MorningBrew Tik Tok - https://www.tiktok.com/@morningbrew Follow Alex! Alex Lieberman (@businessbarista) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

What's up everyone? Welcome back to another episode of Founders Journal. I'm Alex Lieberman,

0:05.0

co-founder and executive chairman of Morning Brew. Today we are talking about probably the

0:09.9

only thing that anyone is talking about at the moment, Sam Altman and Open AI.

0:15.2

On Friday, it was announced that Sam Altman was removed as Open AI's CEO and board member

0:20.7

to be replaced by Mira Miratiotti who was the CEO of the company.

0:25.0

Now there's a ton of speculation about what happened from security leaks to AGI

0:29.6

being achieved and Sam not notifying the board to prior allegations by Sam's biological sister.

0:35.8

While the board still hasn't shared its rationale for the decision, a ton has happened in the last 24 hours.

0:42.3

As of Sunday, November 19th at 542 Eastern,

0:46.3

Sam Altman is back at open AI's offices sporting a guest badge,

0:50.6

and reportedly there is a deadline for open AI's board to reach a deal.

0:55.0

Microsoft CEO Satya Nadella is mediating this discussion.

0:59.0

But since it's all speculation and more will likely happen before this episode even comes out,

1:05.6

I don't want to focus on what might have happened, and I do want to focus on a topic that

1:10.3

every startup founder needs to think about and there's just heightened urgency around.

1:14.9

How to successfully build a board.

1:17.3

Now I am highly unqualified to cover this topic since Morningbrough never raised venture capital

1:22.0

and my co-founder Austin and I were the board

1:24.6

for six years, but I did get a wildly qualified founder to come on the podcast and share his thoughts.

1:30.7

Brett Adcock is a serial entrepreneur who has raised over $1 billion of venture capital

1:36.5

and he has constructed four boards during his career. He's currently building

1:40.9

figure an AI robotics company.

...

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