Sam Alman runs a $500 billion company

and despite this, he has never held down

a real job. So, how do you define a real

job? A real job is working for someone

else. It's climbing from individual

contributor to manager to director up

the corporate ladder. It's managing a

business line that you didn't create.

It's writing reports for your boss and

it's punching a time clock. It's also on

a bad day getting fired or laid off and

having to search another job because

work isn't an option. It's a necessity.

Real jobs are what people like you and I

have. But Sam in his adult life has

never had one. Since the age of 19, he's

been a founder. He's been an investor

and now a figurehead, but never a real

job. And I want to be clear, this is not

a hit piece on ambition. Instead, it's a

pattern recognition exercise on how

Silicon Valley mass- prodduces these

leaders and dupes the public into

thinking that they're competent or even

qualified to make decisions for people

like you and I. Just like in the Elon

video, you can go back and watch that

posted last week. We're going to trace

the line of Sam Alman's career from the

time he dropped out of Stanford all the

way up to present day. And my aim is to

show you that this is not some

serendipitous comeup that was

architected by some genius, which is

what the media wants us to believe is

that people like Sam Alman are geniuses.

We are just too dumb to do it. He is

special. He is gifted. He's nothing like

us. He's this untouchable, incredible

intellect. And that's clearly not so.

When you start to look at the throughine

of his entire career, you start to see

that this is actually just a very

expensive game of musical chairs. Let's

start with college. So Sam goes to

Stanford at the age of 18 and he drops

out after just one year. He founds this

location sharing app company called

Looped, L O P T. And keep in mind if the

dated name was not a clue, this is in

2005 and they raised somewhere between

30 and $39 million in capital, which is

a good start. But just 7 years later,

they sell the company for $43 million,

which was a negative return for his

investors. Obviously, at that point,

you'd take out 39 million and you grow

it grow it to 43 million after 7 years.

that's barely keeping up with inflation

and it's certainly not keeping up with

just investing that money in an ETF. So,

it's basically a wash to a slight

decline in the value of the company over

7 years. He co-founded Loop with two

other individuals. One was his boyfriend

Mick Civo, also Alec Desh Pande. They

were part of the first Y Combinator

cohort. That's the same group that

Reddit was in. And if you don't know,

I'll do another video on it. Drop a

comment if you're interested. Y

Combinator is basically a kingmaker in

the valley. It's a startup accelerator.

And the way that they are massively

successful now, they had a few initial

hits. They had a few initial hits. They

got their money going. They got their

prestige going. And the way that they're

successful now is that they're able to

connect other portfolio companies in Y

Combinator that are alums with existing

ones. So they can sort of give people a

a leg up through that very elite

network. So they do Y comodinator and

then they raise between 30 and 39

million from Sequoia Capital, NEA and

others. At peak the company is valued at

175 million, but the daily active users

started to dwindle. And Sam Alman

himself says, quote, I learned you can't

make humans do something they don't want

to do. Let's just keep that in the back

of our mind as we segue into open AI

later. Making humans do something they

don't want to do. Perhaps a deeply held

fantasy for Sam Alman. They were sold to

Green Dot Corporation in 2012 for 43.4

million of which 9.8 million was

employee retention. So the net to

investors was roughly break even or a

loss. And this is something that happens

in the valley quite a bit. You have

let's say two companies in your

portfolio. They're working on kind of

similar related product spaces. So, you

know, you got a location sharing company

that's maybe for social and then some

other, you know, location sharing

company for enterprise, let's say, and

the enterprise one is doing, you know,

pretty well and the social one is

starting to dwindle. You still have a

lot of talent over here that's very

familiar with the space, right? They've

been working on location sharing

problems and all the building blocks

that make up that problem space. You

have a bunch of talented engineers,

product people, etc., etc., that know

the space. So instead of just losing

those people and letting that company go

out of business, what you might do is

you might, you know, warm intro between

enterprise location sharing company and

personal location sharing company and

you might say, "Hey, uh, you know,

enterprise is going to buy you out for

this much. They'll acquire all of your

employees and and retain the right

people there and then we can grow our

other company faster with basically like

prevetted talent." So this is a pretty

common thing to do. If we dig a little

bit deeper, we find this really juicy

tidbit from Helen Toner, who's a former

Open AI board member, and she revealed

that Loop's management team went to the

board two times and asked them to fire

Sam for quote deceptive and chaotic

behavior. We'll see this as a theme as

we go through his other positions. I

won't call them jobs. So Sam walked away

quote pretty unhappy per the outlet

Intelligencer, but somehow he pocketed

enough from the sale to start his own

venture capital firm. Reportedly, he

took about 5 million after he left the

company, which really boggles the mind

because essentially here's the crazy

shell game that you have going on. You

have a startup that's founded. It goes

on for seven years. Daily active users

start to dwindle. People aren't really

using it. They're then sold to another

company at either a wash or a slight

loss. So, he didn't improve the

valuation of the company between when it

was founded and its exit. He didn't

actually grow it at all or make it more

valuable. And somehow he walks away with

$5 million. So, this is a 7-year failure

story of a company that he slowly ran

into the ground, couldn't pivot to

something useful, couldn't grow the

value of, and then he got a soft landing

with a $5 million take after leaving

somehow. And the only reason he got that

is because the very investment firm that

was losing money on Looped on his

startup negotiated an acquisition with

another one of their portfolio

companies. So, what do you do after you

fail a startup and you lose a bunch of

venture capital money that isn't yours?

You start your own venture capital firm.

And that's exactly what Sam did. He

kicked in some of his 5 million, but

most of the money was actually from

Peter Teal to start his venture capital

firm. Furthermore, he wanted to keep it

in the family, keep it kind of

incestuous, and decided about 75% of it

would be invested in companies coming

out of Y Combinator, that startup

incubator that he's very closely

involved in. And so, this is April 2012.

He co-founds Hydraine Capital with his

brother Jack Alman. It's a $21 million

initial fund to start off with. Some of

his money kicked in. We don't know how

much, but primarily that's being funded

by Peter Teal, his friend and mentor.

And if you have been in tech for a

little while, or if you're around my

age, you would know that 2012 it was

virtually impossible to move to the

valley and found a startup that would

not catch fire. I mean, I don't want to

say virtually impossible, but it is easy

to start a startup at this time. money

is flowing, investors are happy to

invest, and SAS products are just easy

to build. This is like a golden era for

Bay Area startup tech. And so they have

a few good plays because when you're

playing a lottery where the win rate is

50%, you're probably going to get a good

payout. And so they are early investors

in Airbnb. Uh they invest 100 just 100K,

but it turns into massive returns later

on. Uh they invest 100K in Uber and

Reddit. They buy 12.2 2 million shares.

They invest in Stripe and Instacart as

well. All virtually household names at

this point that blow up that 10x or or

100x. And so sneak peek at the future in

2024,

Bloomberg puts him on the billionaires

index and pegs him around $2 billion

quote primarily from his venture capital

funds related to hydroine capital. So

all the while Sam is doing is he's you

know going around Y cominator. He's

getting warm intros to other startups

and he's not building anything. He's not

a builder. He doesn't make anything. He

merely finds himself in these rooms

where somebody else who actually has

talent is making something valuable and

he says, "Here's 100K. Put my name on

the cap table." In 2014, Paul Graham,

the co-founder of Y Cominator, picks Sam

to be his successor as president of that

enterprise. There was no search, no list

of candidates, and according to the

co-founder, Jessica Livingston, she

said, quote, "It was simply Sam." Paul

Graham has a well-known quote about Sam

Alman that we should also put back there

in the back of our heads as we consider

the facts on him. And it's a chilling

quote. It's a chilling quote, especially

now. It's it's precient for the time

that he made the quote. And it's this.

Sam is extremely good at becoming

powerful. Sam is extremely good at

becoming powerful. That's the truth. For

better or worse. And so in 2014 when

he's named president, he is just 28

years old. He ran it for 5 years. And

during that time, Y Combinator companies

included Airbnb, Dropbox, Stripe, Door

Dash. But remember, Alman didn't build

any of these companies. So, after doing

this for 5 years, it's it's 2019, and

the Washington Post actually reported

that he was quote asked to leave for

prioritizing personal goals over the

company. Helen Toner went so far as to

say he was fired. Paul Graham has

disputed this on Twitter, so we'll

probably likely never get the real

story, but there is some flag on the

play there. And regardless of what you

believe, there's some doubt with all of

these companies and his departure and

the conditions surrounding his

departure. So you have three companies,

just three companies, not real jobs that

he's been in the leadership position

for. And they are all disputed or forced

departures, which is very strange. Very

strange. And this is uh this is an

anecdotal thing, but I have worked a lot

of jobs. I don't know how many jobs, but

I've been working since I was 14 when I

was being paid under the table as a

janitor at a trucking company. I've held

a lot of jobs since then. I have only

been fired from one of them and that was

in college, but really post college my

entire professional career I've left on

fine to good terms with every company

I've been at. And I don't think I'm an

exceptional employee or or different or

stand out from the norm. might think I'm

just kind of an average employee and I'm

not an a-hole. You probably have the

same experience. Maybe you've been laid

off or something, which is more of a

corporate decision, but uh you probably

if maybe you've been fired, but it's

probably not a pattern, right? Like

there's probably not these disputed

departures on your job history. But Sam

has only held three quote unquote jobs

in his professional life and each of

them he's left in a disputed or kind of

flag on the play way. So, something's up

there. In 2015, Sam Alman co-founded a

nonprofit whose stated mission was to

build artificial general intelligence

for quote, "the benefit of all

humanity." 10 years later, that

nonprofit is now a $500 billion

for-profit company. The original profit

caps have been removed, and Alman now

sits on both the nonprofit board and the

for-profit board, which we'll get into a

little bit later. Uh, but don't worry,

he only makes $76,000 a year. So he's

got power player co-founders in 2015 uh

Musk, Peter Teal, and Brockman. They

start off with a noble goal. Their

original goal is to make open-source AI

that is to compete with what Google is

developing as part of their deep mind

laboratory. Google intended to keep

their AI closed source. And so open AI

was founded to do AI research and make

models available to the public that were

open source. It's interesting that in

2018, Musk departed after a conflict

with Altman over control and direction.

And you'll see this very often if you've

ever worked with a narcissist or a

sociopath.

They don't work well with other people.

But when they can control other people,

they can survive for quite a lot of time

and actually be fairly successful in

certain roles like being a CEO. What

cannot happen though is two narcissists

cannot work as peers. They cannot do it.

It will never work. It will always end

in fireworks. And that's exactly what

you have happening here. You saw my

other video on Musk earlier in the week.

Now, I'm talking about Sam Alman's track

record, and you're starting to see the

picture. You have two extremely

narcissistic individuals. They are

co-founders. It is a recipe for

disaster. So, Musk actually departs the

company. And if Musk thinks somebody is

insufferable, oh man, that is a high

bar. So you know it's bad when he dips

out. So then in 2019, Sam and the rest

of the OpenAI leadership is like, I got

to figure out a way to make money on

this. And so they create a capped profit

subsidiary. Investors warned that they

should quote, think of investments in

the spirit of donations. It's it's all

altruistic, right? But then the money

comes along and money changes people.

Microsoft comes along offering $13

billion to kick into OpenAI. Things

really accelerate around November 2022

when Chat GPT is launched and the

company explodes to hundreds of millions

of users. There's even controversy

around the loss because according to

Helen Toner, the board quote learned

about it on Twitter speaking of Chat

GPT. So essentially Sam got this product

together, got it developed, and then

launched it without telling the board

anything. And this guy really has his

finger in everything. He didn't disclose

to the board that he owned the Open AI

startup fund. He owns 75% plus of this

fund despite the fact that he claimed to

be quote an independent board member

with no financial interest. So it's a

lot of bad behavior, right? And you need

to control the narrative around this.

you need to make sure that there aren't

whistleblowers, there aren't disgruntled

employees that are going to go around

talking about the company. And so what

he does is he has any departing employee

sign a non-disparagement agreement. So

basically what that means is you can

leave OpenAI, this company that you know

you've had a lot of your pay and options

like maybe you earn like a 200k base

salary, which I know sounds craw

awesome, but like in the bay it's really

not that much. And then a lot of your

compensation is in stock options. These

stock options are private, but once they

go public, if the company becomes a

unicorn like OpenAI, you will never have

to work again. Instead of allowing his

employees to keep those options, he has

them sign a non-disparagement clause,

which basically says after you leave the

company, we will take your options back

if you say anything bad about us. So,

it's a gag order basically uh holding

their money hostage that they've worked

for, that they have earned. Since then,

Altman has claimed that he was unaware

about the non-disparagement clause, but

he's widely accused of lying. Drama

comes around in 2023. The board fires

Altman. He finds out like 5 to 10

minutes before it's made a public

announcement via a Google Meet while

allegedly watching the Las Vegas Grand

Prix, probably from some super swanky

penthouse. Here's where we get another

little peak behind the mask of Sam

Olman. Why was he fired by the board?

It's because two executives had come to

the board with allegations of quote

psychological abuse, providing

screenshots of quote lying and being

manipulative in different situations. So

now there you have it in plain writing.

And for what it's worth, the board takes

this seriously enough to oust him. So

this is not just an idol claim from some

a couple of disgruntled employees. The

board must see some truth in this

otherwise they would just dismiss it and

fire those people and get HR involved

and protect the company. So it's kind

it's kind of weird at the executive

level at that kind of ruling class giga

elite level. If you're in that position

you're going to be ousted by the board.

You probably get a heads up. You know

you you get some time to get your

affairs in order. you negotiate some

some some parachute in terms of like a

buyout or a huge pay package so you

don't have to work for like 5 or 10

years or ever again. Usually you get

some heads up notice on that. It's not

just so sudden. But he finds out like I

said Las Vegas Grand Prix like 5 to 10

minutes before they go public on this

over a Google Meet which is very strange

for this situation. And so why why do

they do that? They fired him in secret

because quote they knew the CEO would

try to undermine them. So again, the

board is on board with these complaints.

They're like, obviously, he's a

manipulator. Uh he's a toxic person.

Somehow things get even stranger because

just 5 days later, Sam Alman rejoins the

company. And the media got this real

wrong. If you watch the media coverage

on this, they got it so so so wrong. And

I'll tell you the narrative that they

put out and then what actually happened.

So they reported factually this is the

truth. 95% of employees signed a letter

to reinstate SAM. But it doesn't get

into why they signed that letter. Let me

break it down for you. Okay, so you are

a software engineer at OpenAI. You're

earning 200K base, which like I said

sounds like a lot, but in the Bay it is

not a lot compared to your other options

out there in tech. So you're earning

200K base. And then let's say at this

point your options are worth $5 million.

Let's say, and if you're good enough to

get into OpenAI, you've decided to not

go to Google where you could have been

making a half a million a year, probably

250K in bays, 250K in stocks, but that

250K in stocks from Google, you could

sell those stocks immediately as they're

granted and turn that into real paper

money that you can sniff, hold, taste,

whatever. But at OpenAI, you're earning

way more. You're you're probably working

80 hours a week easily. It is a grind

shop all the time. Now it is, and it was

back then, too. You're working insane

hours, no friends, no family, no social

life because you're earning 200K, which

is under market for you as a software

engineer, but you have like $5 million

in paper money as soon as this company

goes public. And now the guy who is

going to take you public, the con

man-in-chief, the figurehead of your

company has been ousted. And so the

narrative inside of the company becomes

fear that if this guy doesn't come back,

my $5 million that I have worked my dick

off for worth nothing. Nothing. I have

wasted my time here. So of course they

sign the letter and the media. It makes

me sick. They portray this like Sam is

some kind of a folk hero and they love

him and it's by popular demand. And it's

totally not because I've been in the

situation where I've had equity before,

meaningful equity. And you want that

company to go public because otherwise

it begs the question, why did you go

work at a company that isn't going to

pay you something that you can cash out

in real time? So, of course, they sign

it. Of course, they sign it. And I'll

tell you one other extenduating factor

too that we we know from open AAI

documents is that one of the things

startups will do if they're doing real

well like they're they're trending

towards IPO you know stock value has

gone way up is they'll have something

called a tender offer. And so a tender

offer put very simply is let's say at

OpenAI that 5 million of stocks of stock

options that you have. The company will

arrange every so often a tender offer

for external investors, some

pre-approved group of venture

capitalists to privately buy those

options from employees that are holding

on to them. So even if you don't make it

all the way to APO, IPO, you can cash

out on some of those options by a

private party sale to venture capital or

whatever investment firm the company is

working with. When they signed that

letter, there was a tender offer just

months away. So basically their dude is

out. It's going to f their stock price.

And so they're $5 million. Maybe

overnight it's worth like $2.5. Like how

is this going to affect their valuation

that there's uh there's trouble in the

home with Sam. So of course they sign

the letter. If they don't sign the

letter, they might be out millions of

dollars. I I would sign that letter. So

there's some restructuring there.

There's some juiciness, but I I'm just

going to glaze over it. Suffice to say,

he's back at OpenAI. There's a little

bit of restructuring around uh the

nonprofit versus the profit side of the

business where they pivot to be a

for-profit company. But what I'm more

interested in covering is Sam Alman's

side hustle. You see, while he is busy

running the most important company in

the world, according to him, somehow he

has time to work on side projects. And

this is this is crazy to me because if

you're a software engineer, you are

working 80 plus hours a week at OpenAI

just to make the company richer to line

your own pockets, too. But the lion's

share is going to the company. And with

that 80 hours a week, like I said,

there's no there is no family, there's

no friends. Um, you know, you're

stressed all the time. You're getting

paged in the middle of the night for

support issues. It's it's high

intensity. It's high intensity. You do

you do not have time or energy for a

side project. But Sam is just built

different than you, right? I mean, you

you are a plebbeian uh commoner and Sam

is of the kingly royal class and so he

is elite and he can have side hustles

because remember he's a genius. He's

just like Elon, they're geniuses and

they're far smarter than you and I are.

So he's he's not going to stop there.

You know, Sam, he can do 10 to 20 hours

at OpenAI a week and go appear on Tucker

Carlson and a couple of other uh

scripted news outlets to get his talking

points out and then he's he's done his

OpenAI work. You know, that's as good as

uh some idiot like you or I doing 80

hours of work a week. And so he founds a

company on the side and it's a

cryptocurrency project that pays people

in developing companies, get this, to

let a basketball-sized metal orb scan

their eyeballs. Uh, in somehow that's

not even the weirdest part of this. So

in 2019, he co-ounds a company called

World, formerly WorldCoin with Alex

Blania. And the pitch, this is so messed

up, is quote proof of personhood via

Iris scanning. So you get a digital ID

and then you get world tokens, which is

a cryptocurrency. So give me your

biometric data so that I can identify

you and nobody can spoof your identity

and I will give you imaginary money.

That's the con here. Luckily, there's at

least a few countries that still believe

in freedom and privacy. So, the company

is invested investigated or banned in 14

plus countries on three different

continents. So, you got Spain, Kenya,

Hong Kong, Brazil, uh all suspended

operations. They said no, you will not

be scanning the biometric data of our

people to create a database for god

knows what purpose. Even MIT Technology

Review, which is typically the PR wing

of the tech elite in America, accused it

of quote deceptive marketing techniques

used to build a biometric database.

Yeah, no They're not scanning

irises just for research. And the Berlin

bros were particularly based when they

tried to roll this out in Berlin. There

were fist fights at scanning stations

and criminal groups, get this, paid

homeless people and refugees to get

their eyes scanned and then kick the

crypto back to them, which is like, good

on them for conning the con man. It's

estimated that one group running this

scam may have rad in over $700,000

in World tokens. So, Germany continues

down this thread. They order that world

deletes the biometric data that they've

taken over GDPR violations. Argentina

also find the project $200,000 which is

kind of cute. That's like

uh you know maybe what uh what you'd tip

the valet if you're a company of that

size. Furthermore, they scanned miners

in multiple countries without consent.

So how is World Token doing these days?

It's down 75% from peak. And even in

Altman's own words, he admits the orbs

have quote a clear ick factor. So this

is a disturbing one to watch. I don't

want to make too much of a point out of

it. world could worldcoin could probably

be its own dedicated

video, but he's working on something on

the side because again, he's a genius

and he can get the time to do that. And

not only is the thing that he's working

on on the side creepy, it is building

some biometric database of people to

create nonforgeable

IDs for people, which is again, who

knows what this is being used for, but

doesn't sound altruistic to me. When you

line up every chapter in Sam Alman's

career from Looped to Hydraine to OpenAI

to World, the same pattern repeats.

Somebody else builds the thing. Somebody

else pays for the scaling of that

company. And then Sam puts himself in

the center of the narrative as if he was

the one that did everything. Sam has

never written production code at scale.

He's never managed a P&L he didn't

create. He's never climbed a corporate

ladder. He's never been an IC. And he's

never been an employee. across the three

organizations he's been involved in.

He's been accused of deceptive,

manipulative, or toxic behavior and

ousted from those companies. Sometimes

successfully, sometimes not. And he's

now rewarded with running a company of

tens of thousands of employees despite

the fact that he has never been an

employee himself. He's never actually

worked inside of a company with any real

scale. The man is making some of the

most consequential and longlasting

impactful decisions about one of the

most important technologies of our time.

And he's proven time and time again that

when guardrails are put up to stop him

from doing something unethical or

dangerous, he finds a way to go around

those guardrails and get his own way. Is

that who we want governing artificial

intelligence? A guy who has never been

accountable to anyone. Thank you so much

for watching. Please remember to like

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