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Here's your T&B Tech Minute for Wednesday, December 31st.

I'm Julie Chang for the Wall Street Journal.

OpenAI is paying employees more than any tech startup in recent history, according to financial data it has shown investors. The company's stock-based

compensation is on average about $1.5 million per employee across its workforce of roughly

4,000. That's about 34 times the average employee compensation

of 18 other large tech companies in the year before they went public per a journal analysis

of data compiled by Equilar, which reviewed major tech IPOs over the last 25 years.

The massive pay packages are OpenAI's efforts to keep its lead in the AI race.

An OpenAI spokesman declined to comment. News Corp, owner of the journal, has a content licensing

partnership with OpenAI. Many meme coins, the novelty digital tokens that enjoyed a frenzy of

popularity last winter, have crashed. According to data provider Coin Gecko,

the total market cap of all meme coins has collapsed to less than $42 billion from more than

$150 billion just over a year ago. President Trump endorsed an official Trump coin ahead of his

inauguration in January that is down 93% from its peak.

And Libra, a token briefly endorsed by Argentina's president, has plummeted 99% from its all-time high.

Meme coins were never intended as a serious investment.

The tokens typically don't have any economic purpose and are instead designed to

capture buzz around celebrities or internet memes and also have a reputation for fraud.

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