In a revealing interview published by Colossus Magazine, Thrive Capital co-founder Josh Kushner likened OpenAI and its CEO Sam Altman to possessing “Tolkien’s the One Ring,” a metaphor underscoring the concentrated power and value of the artificial intelligence sector. This perspective comes in the wake of a dramatic governance crisis at OpenAI in November 2023, which saw Altman temporarily ousted from his position, alongside the brief resignation of the company’s president, Greg Brockman.
Kushner’s firm, Thrive Capital, is one of OpenAI’s largest investors, providing him with a unique vantage point on the tumultuous dynamics that unfold when immense influence is attributed to a single entity. In the interview, conducted in October before the upheaval, Kushner suggested that the allure of power can provoke extreme reactions, stating, “Sam, Greg, OpenAI have the Ring, and everyone is willing to do whatever they can to take it.”
When queried about the notion that power corrupts, Kushner offered a succinct affirmation: “Yes.” This sentiment reflects a broader narrative regarding the ethical implications of AI technology and the corporate governance structures that shape its development.
While Kushner did not elaborate on specific actors within the industry, Thrive Capital was quick to mobilize in response to Altman’s unexpected dismissal on November 17, 2023, describing the firm’s reaction as going to war. “There is so much perception of power and value associated with this company,” he noted, expressing pride in how OpenAI navigated the chaos that ensued, despite many stakeholders behaving inappropriately.
Altman’s reinstatement came just days later, following significant pressure from employees and investors, marking one of the most intense governance crises in Silicon Valley’s recent history. Reflecting on the rapid developments, Altman remarked on Kushner’s unwavering support during that tumultuous week, stating, “He just put his entire life on hold.”
Kushner, who founded Thrive Capital in 2009, has built a reputation for backing successful technology ventures, including Instagram, Stripe, Robinhood, and Instacart. His recent activities also include the launch of a $10 billion fund focusing heavily on AI investments. The investor, who is estimated to hold a net worth of $5.2 billion according to Forbes, is also known for being the younger brother of Jared Kushner, a prominent figure in the Trump administration, and is married to supermodel Karlie Kloss.
The current landscape of artificial intelligence continues to evolve rapidly, with companies like OpenAI at the forefront of innovation yet facing increasing scrutiny regarding ethical practices and governance. As the sector matures, the implications of concentrated power within such firms will likely prompt continued debate among investors, regulators, and the broader public. The recent episode at OpenAI exemplifies the fragility of corporate leadership in the face of such immense pressures, raising questions about the future direction of leadership in high-stakes tech environments.
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