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Origins of Oscars, Altman's OpenAI Comeback, India's $100B Euro Deal
Just reporting the facts.
Centrist Chronicle
March 12, 2024
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At the 2024 Academy Awards, the term "Oscar" was used extensively, a colloquial moniker that has become almost synonymous with the Academy Award of Merit. This iconic statuette, which winners proudly receive, was conceived by Cedric Gibbons, MGM's art director during the late 1920s. He envisaged a knight wielding a sword, positioned before a film reel, a concept that the Academy later materialized into the iconic trophy by 1928.
The precise origins of the nickname "Oscar" remain somewhat nebulous. A widely accepted account traces back to Margaret Herrick, a key figure at the Academy during the 1930s and 1940s, who allegedly remarked that the statuette bore a resemblance to her Uncle Oscar. This endearing comparison caught on among Academy staff, and thus, the Academy Award of Merit gradually adopted its affectionate and now-famous alias, "Oscar."
Sam Altman, OpenAI's CEO, has been reinstated to the company's board of directors after a four-month hiatus caused by his unexpected dismissal, which sent shockwaves through Silicon Valley. An independent investigation concluded on Friday that there were no grounds for Altman's ouster, clearing the way for his return.
Originally founded by Altman in 2015 as a nonprofit entity, OpenAI transitioned into a dual structure in 2019, introducing a for-profit subsidiary. The company gained widespread recognition with the launch of ChatGPT in 2022 and is currently estimated to be worth approximately $80 billion. Despite its for-profit activities, OpenAI continues to operate under the governance of its nonprofit board.
In November, Altman was removed from his leadership and board roles, with the board citing issues related to the organization's nonprofit ethos but not providing detailed explanations. Post-investigation, Altman seems to have regained considerable influence within OpenAI.
In a related development, OpenAI addressed a legal challenge from former cofounder Elon Musk concerning the organization's shift away from its commitment to open-source research.
India has agreed to remove the majority of import duties on industrial goods from Switzerland, Norway, Iceland, and Liechtenstein, anticipating $100 billion in investments over the next 15 years, according to statements from the country's trade minister. This development came after an economic agreement was finalized on Sunday, marking the end of negotiations that spanned nearly 16 years. This agreement is part of India's broader trade strategy, following recent deals with Australia and the United Arab Emirates, and as talks with Britain are nearing completion. This is aligned with Prime Minister Narendra Modi's goal to boost India's annual exports to $1 trillion by 2030. Under this new arrangement, the European Free Trade Association, which includes the aforementioned four nations, plans to channel substantial investments into India, leveraging its vast market of approximately 1.4 billion consumers, as conveyed by Trade Minister Piyush Goyal.