Elon Musk ‘shot down’ OpenAI’s ICO plan in 2018 over credibility concerns
According to a court filing, Elon Musk said that the proposed initial coin offering (ICO) “would simply result in a massive loss of credibility for OpenAI.”
Tesla CEO and tech entrepreneur Elon Musk dismissed OpenAI CEO Sam Altman’s proposal to launch a cryptocurrency token in early 2018, warning that it could severely harm the reputation of the company, according to a recent court filing.
“In January 2018, mere months after their September 2017 “enthusias[m],” Altman proposed a scamworthy “ICO,” or initial coin offering, that would have seen OpenAI, Inc. sell its own cryptocurrency,” Musk’s lawyers declared in a filing with the United States District Court for the Northern District of California on Nov. 14.
“Musk shot down this idea too, stating “it would simply result in a massive loss of credibility for OpenAI and everyone associated with the ICO,” the lawyers added.
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Author: Ciaran Lyons
