And it evidently doesn’t translate to visibility either, as OpenAI’s investors were caught off guard by the sudden change. OpenAI’s unusual structure gives its nonprofit full governance rights over a holding company that is owned by OpenAI employees and minority investors including Microsoft and venture capital firms, according to a corporate structure map from late last year that was reviewed by Fortune. All of the events from this chaotic weekend suggest that OpenAI’s unusual governance structure—organized by Altman himself—backfired on him. PEOPLE- Defy.vc, a Woodside, Calif.-based venture capital firm, hired Medha Agarwal as a general partner and Amy Yin as a venture partner. - Paladin Capital Group, a Washington, D.C.-based venture capital firm, promoted Ken Pentimonti to managing director.

Source: Forbes November 20, 2023 18:24 UTC