{"id":610609,"date":"2023-11-22T00:00:00","date_gmt":"2023-11-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/sam-altman-goes-back-to-openai-climate-change-is-affecting-sugar\/"},"modified":"2023-11-22T00:00:00","modified_gmt":"2023-11-22T00:00:00","slug":"sam-altman-goes-back-to-openai-climate-change-is-affecting-sugar","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/sam-altman-goes-back-to-openai-climate-change-is-affecting-sugar\/","title":{"rendered":"Sam Altman goes back to OpenAI + Climate change is affecting sugar"},"content":{"rendered":"

In today\u2019s episode of the OpenAI soap opera:<\/strong> Sam Altman, after his turbulent ouster<\/a> less than a week ago, is being brought back as CEO, the company posted on X<\/a>. Greg Brockman, former president and chairman, was also reinstated. Turns out having almost all employees threaten to resign<\/a> can put a little pressure on a company. <\/p>\n

On the tails of a backfired coup, the board responsible for all the drama is being replaced <\/strong>by tentative members, Bret Taylor (former co-CEO of Salesforce) as chair, existing member Adam D\u2019Angelo (Quora CEO), and Larry Summers (former Treasury Secretary). <\/p>\n

Where does this leave Microsoft, who had <\/strong>hired<\/a><\/strong> Altman and Brockman to lead a team for <\/strong>advanced AI research? <\/strong>Still no word from CEO Satya Nadella who conveniently left out the info from his most recent statement<\/a>.<\/p>\n

But the five day frenzy\u2019s not over yet. <\/strong>In the vague X post, the company said an agreement had been reached \u201cin principle,\u201d with collaborations still taking place to \u201cfigure out the details,\u201d like a finalized, reworked board. <\/p>\n

Up to nine new directors are in the works<\/strong>, a source close to the matter told Bloomberg<\/a>, and it\u2019s likely that Altman will be one of them eventually, but is sitting out for now to move the agreement along.<\/p>\n

The story is getting a lot of ink: <\/strong>The Verge<\/a>, Wall Street Journal<\/a>, Time<\/a>, Reuters<\/a>, CNN<\/a>, Washington Post<\/a>, New York Times<\/a>, CNBC<\/a>. <\/p>\n

\n

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One year after <\/strong>entering the private equity space<\/a><\/strong>, Kim K can now say she\u2019s completed her first PE transaction. <\/strong>Skky<\/a>Partners<\/a>, Kardashian\u2019s venture with copartner Jay Sammons, acquired<\/a> a significant minority stake in Truff<\/a>, a manufacturer of luxury condiments.<\/p>\n

Truff seems like a good fit for the Kardashian brand.<\/strong> The manufacturer, operated by Sauce Ventures LLC, produces a variety of regular condiments \u2014 salt, mayonnaise, oil, hot sauce \u2014 infused with truffle. Nick Guillien, co-founder of the condiment company, described Truff as \u201cthe Dom Perignon of hot sauce.\u201d<\/p>\n

A 170g bottle of Truff hot sauce is priced at USD 17.98 (EGP 556.2, for those of you keeping track at home).<\/strong> For comparison, a bottle of hot sauce at the grocery store averages EGP 30. Truff\u2019s best seller pack<\/a>, containing black truffle hot sauce, white truffle hot sauce, and black truffle oil, sells for USD 74.99 (EGP 2.3k), but retails in Om El Donia for EGP 4.8k<\/a>.<\/p>\n

\n

\n

You might want to revisit how many spoons of sugar go in your tea:<\/strong>El Ni\u00f1o<\/a>, the warming of surface waters in parts of the Pacific Ocean due to climate change, has caused extreme weather conditions<\/a> impacting sugar production<\/a> in Asia. Damaged harvests in India and Thailand, the world\u2019s second and third largest sugar exporters, have seen prices worldwide at their highest since 2011.<\/p>\n

It\u2019s affecting some countries more than others.<\/strong> Import-dependent countries, especially those in sub-Saharan Africa, are feeling it a little more. Nigeria, which imports 98% of its raw sugar, has had prices jump 22.7% within a week.<\/p>\n

IN OM EL DONIA- The Madbouly government met with sugar packing <\/strong>companies and traders to negotiate new terms for trading of the product last month.<\/strong> This came hot at the heels of the government\u2019s temporary ban<\/a> on selling sugar to traders in an effort to temper soaring prices.<\/p>\n

This is affecting individual consumers, <\/strong>bakeries, and other food manufacturers globally, who are forced to raise their prices to turn a profit, to the chagrin of their customers. <\/p>\n

As of October, the price for a kilo of sugar was EGP 40 <\/strong>\u2014 double the price subsidized by the government. The sugar export ban was also extended to curb inflation<\/a>.<\/p>\n

The United Nations Food and Agriculture Organization is predicting a loss of 3.5 mn <\/strong>metric tons in production compared to last year<\/strong>, according to AP<\/a>. Thailand is expecting an additional 15% dip in production, but has imposed price controls on the product for the first time since 2018.<\/p>\n

It\u2019s a different story for Brazil. <\/strong>Their better weatherhas translated to a production increase<\/a> of 20% \u2014 but its harvest won\u2019t hit the market before April, and will only plug the leak in supply until late 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

A new board is being put together after the previous one that caused Altman\u2019s exit was replaced<\/p>\n","protected":false},"author":1,"featured_media":610610,"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":[7215],"tags":[317,633,638,8370,7137],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-commodities","tag-enterprisepm","tag-for-your-commute","tag-openai","tag-sam-altman","wpautop","entry"],"acf":{"mongo_id":"223647eb-1802-4caa-a15a-94571b102ad4","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1117.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[610604],"teaser":"A new board is being put together after the previous one that caused Altman\u2019s exit was replaced","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.205ba98f-e39a-41a4-8888-1c193d81eb18.mp3"},"yoast_head":"\nSam Altman goes back to OpenAI + Climate change is affecting sugar - 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