Musk to Jared Birchall — “I don't want Sam on the lease.”
On June 10, 2016, Elon Musk emails Jared Birchall to ask why Sam Altman’s signature is being requested and states that he does not want Sam on the lease. Musk describes the project as a Musk Foundation building to house OpenAI, Neuralink, and possibly some SpaceX or Tesla people, and argues that because he is putting his name on the lease, the letter of credit should require zero reserved capital rather than $400k for ten years.
Why are we asking for Altman's signature? Since I'm personally on the hook, this should be viewed as a Musk Foundation building, in which we will house OpenAI, Neuralink and maybe some SpaceX or Tesla people. I don't want Sam on the lease.
For the LoC, what matters is how much capital I have to hold against it. If I have to reserve $400k for ten years, that is almost the same as spending $400k. I'm putting my name on the lease, so this should really be zero.
— Fri, Jun 10, 2016, 7:10 AM —
Great