OPENAI EX-EMPLOYEES WORRY ABOUT COMPANY'S CONTROL OVER THEIR MILLIONS OF DOLLARS IN SHARES

Summary from the TLDR newsletter

Many of OpenAI's early employees are sitting on millions of dollars worth of equity. The only way for them to realize any value from this equity in the near term is through secondary stock sales. OpenAI has told employees that it will try to hold one tender offer roughly every year depending on how both the company and the market are faring at the time. Current and former employees are increasingly concerned about access to liquidity after reports that the company has the power to claw back vested equity. The company has used aggressive tactics to get employees to sign exit agreements that affect the future of their stock holdings.