{"id":610306,"date":"2023-11-19T00:00:00","date_gmt":"2023-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/altman-out\/"},"modified":"2023-11-19T00:00:00","modified_gmt":"2023-11-19T00:00:00","slug":"altman-out","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/altman-out\/","title":{"rendered":"Altman out"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>We have an important programming note for you before we get underway. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Please join us in welcoming Vodafone to the Enterprise family.<\/strong> The nation\u2019s leading mobile network operator is the new sponsor of What We\u2019re Tracking Today, this very section. We think of What We\u2019re Tracking Today and tl;dr as together making up our equivalent of the \u201cfront page\u201d of an old-school print newspaper, with a twist. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What We\u2019re Tracking Today is where we look ahead.<\/strong> Sure, it gives you the inside track on the big stories of the day \u2014 but it\u2019s also where we talk about trends and where we\u2019re heading as a community. About big issues and the ideas that are shaping our businesses, our communities, and our lives. From innovation, financial inclusion, and regulation, to women in the workplace, the future of capitalism, and our ties to the wider world, What We\u2019re Tracking Today is the section where it all happens.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We can think of no better partner for WWTT than Vodafone: <\/strong>We both value innovation. Reliability. Keeping our promises to the people we work with \u2014 and the people we serve. We\u2019re delighted that Vodafone also values meaningful, independent reporting. That\u2019s why they\u2019re supporting us, and it\u2019s why they (like our other valued advertising partners) have no control over our editorial. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A long-term friendship: <\/strong>We\u2019ve known the folks at Vodafone for longer than is polite to say in public \u2014 and we\u2019ve seen first-hand for more than 20 years now how Big Red means business. Vodafone is looking forward to engaging with our audience of decision-makers, business owners, and senior execs in the months to come, and we\u2019re delighted to have them. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It is thanks to Vodafone and all of our other advertising partners that EnterpriseAM is <\/strong><strong>available to you without charge. <\/strong>Please join us this morning in thanking not just Vodafone, but all of our advertisers, including:<\/p>\n<ul>\n<li>HSBC Egypt<\/li>\n<li>EFG Holding<\/li>\n<li>SODIC<\/li>\n<li>Infinity<\/li>\n<li>Somabay<\/li>\n<li>Grant Thornton \u2014 Saleh, Barsoum & Abdel Aziz<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As well as our weekly section sponsors: <\/strong><strong>CIRA <\/strong><strong>Education <\/strong>(Blackboard), <strong>Orascom <\/strong><strong>Construction<\/strong>(Hardhat), and <strong>Infinity<\/strong> (Going Green).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And thank you, wonderful people, for starting your day with Enterprise. <\/strong>Writing to you each day is the highlight of our professional careers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY HERE AT HOME is <\/strong><strong>not<\/strong><strong> a EUR 9 bn assistance package from the European Union. <\/strong>European Commission chief Ursula von der Leyen was in Egypt over the weekend and met with President Abdel Fattah El Sisi, but did not announce the investment-heavy package Bloomberg\u2019s Brussels bureau suggested could be on the agenda. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prime Minister Moustafa Madbouly is talking up an end to the FX crunch<\/strong>, as we note in this morning\u2019s Manufacturing Watch, below. His remarks drew questions from nighttime talk show queen Lamees El Hadidi, who remains handily the smartest biz-econ commentator on the airwaves. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more on both stories below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>Silicon Valley is on fire after what has been described as a \u201ccoup\u201d at high-flying startup <\/strong><strong>OpenAI<\/strong>, where the board of directors fired co-founder and CEO Sam Altman, saying he was \u201cnot consistently candid in his communications with the board.\u201d The board also removed chairman and co-founder Greg Brockman, saying he would stay as president. Brockman later quit, as did a handful of top staff. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Altman was fired via Google Meet<\/strong>, and Microsoft CEO Satya Nadella \u2014 OpenAI\u2019s primary business partner and financial backer \u2014 got exactly one minute of advance notice before Altman\u2019s ouster was announced. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Top investors including Microsoft and Thrive Capital are angling to bring Altman back<\/strong>, with the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/openai-trying-to-get-sam-altman-back-4b728049\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reporting at dispatch time this morning that he was \u201cconsidering\u201d the idea, weighing it against starting a new venture with other staff who followed him out the door. Thanks to his time running Y Combinator, Altman is one of the best-known figures in Silicon Valley and would not face much in the way of obstacles to raising funds for a new startup after taking OpenAI from zero to a valuation that the company thinks is <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/openai-seeks-new-valuation-of-up-to-90-billion-in-sale-of-existing-shares-ed6229e0\" style=\"\" rel=\"noopener\">in the USD 90 bn range<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Altman wasn\u2019t ousted for \u201cmalfeasance<\/strong> or anything related to our financial, business, safety, or security\/privacy practices\u201d but was ousted on the back of a \u201cbreakdown in communications between Sam Altman and the board,\u201d according to an internal memo, <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2023\/11\/18\/openai-memo-altman-firing-malfeasance-communications-breakdown\" style=\"\" rel=\"noopener\">Axios<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So why did he exit stage left? <\/strong>Altman clashed with OpenAI\u2019s co-founder and chief scientist Ilya Sutskever and others over the pace of developing generative AI and steps to mitigate potential harm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The global business press is describing Altman\u2019s firing as \u201cthe story of 2023.\u201d <\/strong>See reporting from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2023-11-18\/sam-altman-s-openai-exit-reorders-silicon-valley-s-power-dynamics\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/ousting-ceo-sam-altman-chatgpt-loses-its-best-fundraiser-2023-11-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/altman-ai-chatgpt-murati-893e4a460c10eb3a8f1afefa6156eca3\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/164977f0-fb77-4f85-94c6-ff29bd3c19cf\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/sam-altman-departs-open-ai-mira-murati-interim-ceo-41f6d51e\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to listen instead? Everyone and her brother was out with an \u201cemergency pod\u201d this <\/strong><strong>weekend<\/strong>, including <a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/emergency-episode-sam-altman-out-at-openai-and-xs\/\" style=\"\" rel=\"noopener\">Kara Swisher<\/a>, <a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/breaking-sam-altman-fired-from-openai-chaos-ensues-e1851\/\" style=\"\" rel=\"noopener\">Jason Calacanis<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/18\/podcasts\/hard-fork-sam-altman.html\" style=\"\" rel=\"noopener\">Casey Newton<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Elon isn\u2019t having a great day. <\/strong>The tech oligarch <strong>is losing advertisers from Apple <\/strong><strong>and IBM to Hollywood studios after <\/strong>endorsing an antisemitic conspiracy theory on his social media platform X. The White House accused him of an \"abhorrent promotion of antisemitic and racist hate\" and big names including Disney, Warner Bros, and Comcast pulled their adverts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/white-house-condemns-musk-spreading-hideous-antisemitic-lies-2023-11-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/647b4c4d-f4d5-46cd-bc26-8c943b6995e7\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-17\/white-house-hits-musk-s-abhorrent-endorsement-of-antisemitism\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/elon-musk-x-antisemitism-twitter-ads-83e68f03e9bf1d261c1a8c55066c4e59\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/elon-musk-antisemitism-social-media-fc5ec321\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Sameh Shoukry is touring capitals of a \u201cnumber\u201d of P5 members of the UN Security <\/strong><strong>Council<\/strong>, joining a group of Arab and Muslim foreign ministers who hope to ramp up pressure for Israel to agree to a ceasefire in its war in Gaza. The tour kicks off today, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2bwn97v8\" style=\"\" rel=\"noopener\">Foreign Ministry statement<\/a>. It\u2019s not clear where Shoukry will touch down first. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Taking stock of <\/strong><strong>NWFE, the state-led infrastructure program, one year on: <\/strong>A roundtable today will review progress on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e40eaa44-2bb4-49a3-9336-af3df3a4d395\" style=\"\" rel=\"noopener\">USD 15 bn<\/a> Nexus of Water, Food and Energy (NWFE) initiative, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/969.pdf\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/969.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/969.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The International Cooperation Ministry will meet with Prime Minister Moustafa Madbouly and representatives of the EBRD, the US government, and other development finance partners to take stock of where the program stands.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>ALSO- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/cairoict.com\/\" style=\"\" rel=\"noopener\">Cairo ICT<\/a><\/strong><strong> kicks off today <\/strong>at the Egypt International Exhibition Center. The tech industry gathering ends on Wednesday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>PSA- Get your raincoats at the ready. <\/strong>There\u2019s a chance of rain with the possibility of thunderstorms across most governorates today and tomorrow as the mercury drops 2-3\u00b0C, the Egyptian Meteorological Authority warned in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/56urr6xj\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect high winds with gusts of nearly 60 km\/h this afternoon <\/strong>with scattered showers throughout the day today, according to our favorite weather app. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE HOUSE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The House is back in session after a one-week break.<\/strong> MPs will sit today and tomorrow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building reconciliation bill on the agenda today and tomorrow:<\/strong> MPs will discuss and vote on an updated government bill that will make it easier for owners of illegal buildings to legalize their status in return for paying reconciliation fees. The long-awaited bill, approved by a joint parliamentary committee last Thursday, will replace a 2019 law that has proved problematic for citizens wishing to reconcile their construction violations with state authorities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also:<\/strong> A number of committees will hold sessions including the House industrial, SMEs and health committees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TOMORROW-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect lots of investment news when a Saudi business delegation <\/strong><strong>arrives tomorrow:<\/strong> Egyptian and Saudi companies could sign investment agreements worth up to USD 1.5 bn when a delegation led by Saudi Trade Minister Majid bin Abdullah Al Qasabi arrives in Egypt tomorrow for the Saudi-Egyptian Business Council. The agreements will cover a range of sectors including energy, real estate, agriculture, and tourism, council member Turki Alhokair said in a statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING THIS WEEK-<\/strong> The <strong><a target=\"_blank\" href=\"https:\/\/gcc-egyptbf.com\/en\/forum\/forum-program-1\" style=\"\" rel=\"noopener\">Egy-GCC Business Forum<\/a><\/strong> opens on Wednesday \u2014 which is also the deadline to apply with the Financial Regulatory Authority for a license to run a <strong>credit rating agency<\/strong>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n  <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MARKET WATCH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> OPEC+ is mulling a deeper production cut to support prices:<\/strong> The oil cartel is reportedly considering whether further oil production cuts are needed when it meets later this month, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-consider-whether-more-oil-cuts-needed-sources-2023-11-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes. Oil is down almost 20% since September despite price cuts, Some cartel members are worried that demand will weaken further. KSA and Russia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\" rel=\"noopener\">decided earlier this month<\/a> to leave their production cap in place. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people. We have an important programming note for you before we get underway. Please join us in welcoming Vodafone to the Enterprise family. The nation\u2019s leading mobile network operator is the new sponsor of What We\u2019re Tracking Today, this very section. We think of What We\u2019re Tracking Today and tl;dr as together [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":610307,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[7094,72,8370,7137,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-ai","tag-enterpriseam","tag-openai","tag-sam-altman","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"3c2d1c94-8eb4-4ce4-b265-d1d4659e1230","order":"0","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/11\/972.jpg","photo_position":"above","homepage_title":"","full_issue_title":"OpenAI shows Sam Altman the door in shock ouster","related_issue":[610304],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Altman out - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/altman-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Altman out\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people. We have an important programming note for you before we get underway. Please join us in welcoming Vodafone to the Enterprise family. The nation\u2019s leading mobile network operator is the new sponsor of What We\u2019re Tracking Today, this very section. 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There are just 21 days left in 2020, if you \u2014 like us \u2014 are keeping count. *** We\u2019re a bit late this morning because one of our cloud services is glitching this morning. We\u2019ve addressed most of the problem,\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561177,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/what-were-tracking-on-29-march-2021\/","url_meta":{"origin":610306,"position":2},"title":"What we\u2019re tracking on 29 March 2021","author":"enterpriseam admin","date":"29 March 2021","format":false,"excerpt":"Good morning, nice people. Mondays are typically the slowest news days of the week, but not so today \u2014 we have plenty going on.IT\u2019S A BIG DAY FOR: Our covid-19 vaccine rollout. 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