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Delaware Chancery Court Judge Kathaleen St. Jude McCormick has blocked Elon Musk’s US$55.8 billion pay package, which Tesla’s board of directors approved in 2018 through a process she found to be “deeply flawed.” No CEO of a publicly traded U.S. company has ever been paid this much for one year’s work, according to Equilar, which tracks corporate leadership data. Pay for the 10 highest-paid executives, including Google’s Sundar Pichai and Apple’s Tim Cook, reportedly maxed out at around $250 million in 2022. The Conversation asked Justin P. Klein, the director of the Weinberg Center for Corporate Governance at the University of Dela...... Read Full article on HadNews

OpenAI: Who is REALLY in charge? – Company Forensics OpenAI, the company behind chat GPT, has become synonymous with artificial intelligence in today’s world. But is OpenAI truly making AI beneficial to humanity? The recent firing of Sam Altman, the key person and face of the company, has brought attention to the power dynamics within OpenAI. The roots of OpenAI go back to 2015, when a group of AI enthusiasts came together to create an organization dedicated to making AI beneficial to humanity. The company was structured as a nonprofit charity, with the goal of sharing research and patents with the public. However, as time went on, the...... Read Full article on HadNews