21-Nov-23 12:00

Kevin Brockland, Founder & Managing Partner, Indelible Ventures

In a shocking turn of events that rocked the tech world, last Friday, the 17th of November, the board of directors of OpenAI fired then CEO, and Open AI Founder, Sam Altman.

This reportedly followed a deliberative review process by the board, which concluded that he was not consistently candid in his communications with them, hindering the board's ability to exercise its responsibilities. Which is the official reason they said that they no longer had confidence in Sam Altman's ability to continue leading OpenAI.

Adding to the drama, it seems that Sam Altman and his team have found a new home over at Microsoft, which owns 49% of Open AI, but has no direct influence over its board of directors.

Following up on The Morning Run's coverage of this with Dan Ives from Wedbush Securities, which you can find here, here on Enterprise Biz Bytes, we explore the typical dynamics at play between founders and board, what good communication between them should look like, and what founders should know about the role and powers of boards. We also get into the value of a board seat during fund raising talks.

Helping us with this was Kevin Brockland, Founder & Managing Partner at Indelible Ventures