Sam Altman makes 'mic drop' offer to every Y Combinator startup

4 hours ago

Sam Altman offers $2 million worth of OpenAI tokens to each Y Combinator startup in the current cohort in exchange for equity, as an uncapped SAFE investment that converts at the next priced round.
The deal benefits OpenAI by gaining equity in early-stage companies and encouraging them to build using OpenAI's technology, while startups get AI infrastructure without upfront cash costs, though it may involve giving up equity.
Concerns include potential for OpenAI to copy startup ideas, but taking equity could align incentives for startup success, and startups must weigh token budgets against equity dilution, especially with YC's existing 7% stake and seed investor demands.

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