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Breaking: Open AI announces $1.5 Million Bonus for Every Employee

soAsian said:
Someone said on Twitter, 'That's $1.5 million for every employee, including new hires.'
Click to expand...

OpenAI is definitely scorching the market - but it would be interesting to see what the mix of that $1.5M is - probably not all cash. OpenAI has a unique new flavor of equity compensation called Profit Participation Units.

Equity-Like Component (“Profit Participation Units” or PPUs): Instead of traditional stock options or RSUs, OpenAI offers Profit Participation Units. PPUs entitle employees to a share of the company’s profits if it is successful. They typically vest over four years (25% per year) and are a large part of the total pay package (in many cases, worth several hundred thousand dollars or more annually). PPUs are not traditional equity, but are structured for tax efficiency and aim to align employee incentives with the company’s growth.

Seems like they have been doling these out more liberally recently as they race to profitability.
 
KevinK said:
And then there's the new Gold Rush happening in San Francisco:

The Insider’s Guide to San Francisco’s A.I. Boom​

​

The city is the tech industry’s hub for artificial intelligence, 30 miles north of the home of companies like Meta and Google.​


Click to expand...
San Francisco literally only does gold rushes. It always has, and probably always will.
 
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