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VCs sour on Sam Altman

26-3-2024 < Attack the System 10 209 words
 
They anointed him the startup industry’s latest golden child. Now they’re turning on him. 

Some venture capitalists are growing less impressed with Sam Altman as he reportedly raises a $100 billion funding round for OpenAI, Business Insider’s Darius Rafieyan reports.



From hardball tactics when raising funds to relentless self-mythologizing about his role in the future of tech, Altman’s act is wearing thin on some.



It’s only natural for critics to emerge when a person reaches a certain level of fame. Altman has eclipsed that benchmark, going from a well-known name within tech circles to one of the industry’s key players.



Even still, he’s mostly avoided controversy except for his ouster-turned-return last fall and an ongoing feud with Elon Musk.



However, his wide-reaching ambitions — a sprawling network of investments focused on helping humanity — have some feeling they are more about self-promotion.



The Altman vibe shift is representative of the fine line founders often need to balance. Investors want to back visionaries whose charisma and determination for their ideas are undeterred, à la Steve Jobs.



But when unchecked, those sought-after executives can quickly spiral out of control and fall out of favor with those who initially backed them.

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