It's not. AI is not. This is all self-flagellation to the point that the entire industry may go blind.
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Meta Offered Apple AI Executive Over $200 Million to Leave
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It's not. AI is not. This is all self-flagellation to the point that the entire industry may go blind.
Probably not as higher income earners always pay more. The top 10% of earners pay 90% of the taxes.He’ll be paying less taxes than you and me, unfortunately.
Great opinion, but all Artificial Intelligence is nothing more than a joke and full of inaccuracies. Artificial Intelligence will fade in the next year or two when the fad dies out, like Cryptomining has died out. Apple is at least taking the time to get it right and in the correct context whereas Meta is only following Google's example and selling people's data to highest bidder in order to make as much money as possible.
Yes, just look at all that money he spent on the Metaverse and how well it worked out. Zuckerberg’s success and net worth are not commensurate with his intelligence and skill. I won’t go into my feelings about AI at the moment and the frenzied gold rush, but let’s see how this works out for him.
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Criminally late? What crimes have they committed? Oh, so I'm being a bit silly but some of us don't care about AI as long as we can disable it. I tried writing a short story on an AI enabled system. Boy, was it hard work. It's [cough][cough] sugestions were the sort of thing a 1st grader might make and in an adult oriented crime story, it is just a waste of time. Besides, if you take their suggestion you might get dinged for plagarism and having had two novels ripped off by thieves and submitted to Kindle i know what it is like to be on the wrong end of that.
I am betting his base salary is no different to what he was getting at Apple BUT the majority of the money is coming from stock options given to him which will mature once he has stayed at the company for several years. This is how big corporations and banks tie in their top staff, they entice them with multimillion $$$ deal with the majority of it coming from stock options which mature when the person stays at the company for several years. If they leave before they should do then the stock options become worthless.
I am betting the 'performance milestones' have been set to such a level that it is going to be extremely difficult to reach unless he works all the hours possible, 7 days a week, no holidays, no time for family. For $200 million his life now belongs to Meta for the next several years.
I am betting the 'performance milestones' have been set to such a level that it is going to be extremely difficult to reach unless he works all the hours possible, 7 days a week, no holidays, no time for family. For $200 million his life now belongs to Meta for the next several years.
Your first paragraph is likely right. This will be X millions of shares, vesting over time, with the first, call it 1/4, vesting after three years. Then a chunk vesting each year after that. So this is likely something like a seven year commitment to get the full value.
Now the performance milestones are probably not a major part of this. Yes, he might have to work hard, but almost all high level executives work hard. And in big companies building big new things, there is always more work than time to do it in. Meta probably needs AI to be successful to justify their stock price, so this team probably needs to be successful to make the $100+ million stock awards highly valuable. But I doubt there are too many specific milestones in the contract.
His approach of dramatically overspending didn't work for VR, why assume it will work for AI?
I guess MZ is using the Facebook & insta ad money to pivot to LLMs and the meta verse (mixed reality) to be your interface to the world, no matter the cost.
And that’s fair enough. Google are doing the same thing. Soon we’ll say ‘oh yeah I remember when they did search’.
Apple meanwhile seem stuck in the (recent) past.
They seem unable to pivot in the same way that their valley peers have done since the public launch of chstgpt
It feels like Apple can’t won’t change the methodology, the way of doing business that made them huge from 2003 the middle of the last decade.
AI is misfiring. Marketing too. UX also (liquid glass is going to resemble iOS 18 soon enough). Multiple jurisdictions are unhappy with how Apple does business yet they refuse to compromise in any way.
The hardware is very very solid though. Phew.
It is time for a new generation to start to step up. One that realises that there needs to be some pivots.
And that’s fair enough. Google are doing the same thing. Soon we’ll say ‘oh yeah I remember when they did search’.
Apple meanwhile seem stuck in the (recent) past.
They seem unable to pivot in the same way that their valley peers have done since the public launch of chstgpt
It feels like Apple can’t won’t change the methodology, the way of doing business that made them huge from 2003 the middle of the last decade.
AI is misfiring. Marketing too. UX also (liquid glass is going to resemble iOS 18 soon enough). Multiple jurisdictions are unhappy with how Apple does business yet they refuse to compromise in any way.
The hardware is very very solid though. Phew.
It is time for a new generation to start to step up. One that realises that there needs to be some pivots.
I would not put too much investment into AI because AI is not fool proof or infallible. It has made mistakes and will continue to make mistakes. AI will be pulled when it makes bad judgments and causes companies to loose millions or even billions of $$$ or when many people are seriously hurt or killed.
How long will it be before AI is making wrongful medical diagnostics (more so than humans), or wrongful decisions on peoples financial benefits/welfare causing them to get ill and die or car's AI not making the right decision leading to crashes and deaths. Yes humans make mistakes but the makers of AI promote AI as being able to get rid of these mistakes. Somehow I do not think so.
How long will it be before AI is making wrongful medical diagnostics (more so than humans), or wrongful decisions on peoples financial benefits/welfare causing them to get ill and die or car's AI not making the right decision leading to crashes and deaths. Yes humans make mistakes but the makers of AI promote AI as being able to get rid of these mistakes. Somehow I do not think so.
The stock tanked? There was even a lawsuit from a shareholder? AAPL tanked %30 when the failure of the AI division of Apple was exposed? Me describing it as "criminal" was exaggeration, but Apple decieved their customers and shareholders with their failed AI
Everybody has their price. Heck if they offered me $200 million but as a condition I could never touch an Apple device again - I'd miss my Apple stuff, but they'd have my answer tout de suite 😉
This kind of approach is damaging to competition.
Is pouching ok now? No wonder China will win this race.
PS: “I make you a millionaire if you stop working for them”
Is pouching ok now? No wonder China will win this race.
PS: “I make you a millionaire if you stop working for them”
This is untrue and has been debunked time and time again.
In the United States, the top 10% pays closer to 75% of all federal income taxes, 60% of ALL federal tax revenue, and around 50% of all taxes when including state and local.
Poaching the guy was likely as much to hurt Apple as to get a good employee for Meta. Unless they’ve gone completely irrational, you know Meta figured that into their negotiation calculations.
Meta hiring people like they’re a Saudi sports league.
Meta offered one of Apple's top artificial intelligence executives over $200 million to lure him away from the company, Bloomberg reports.
Ruoming Pang, who until recently led Apple's foundation models team, departed the company to join Meta's Superintelligence Labs, a newly established division tasked with building advanced AI systems capable of performing at or beyond human-level intelligence.
At Apple, he was in charge of a team with approximately 100 employees that work on Apple's large language models. Models developed by Pang's team are used for Apple Intelligence features like email summaries, Priority Notifications, and Genmoji.
People familiar with the matter speaking to Bloomberg said Meta's offer to Pang includes a substantial base salary, a signing bonus, and a large stock award that forms the majority of the compensation. The full payout is contingent upon performance milestones and continued employment over several years.
Apple apparently did not even attempt to match the offer. The proposed sum significantly exceeds the compensation of all Apple employees, other than that of CEO Tim Cook. Pang's compensation is among the highest ever offered in a corporate setting, rivaling packages for chief executives at major global banks.
In a podcast interview last month, OpenAI CEO Sam Altman said Meta had been offering signing bonuses as high as $100 million to attract top talent: "[Meta] started making these giant offers to a lot of people on our team. You know, like $100 million signing bonuses, more than that in compensation per year."
Apple has reportedly appointed Zhifeng Chen as the new head of its Foundation Models team and implemented more a distributed management structure, with responsibilities split among several senior engineers.
In addition to Pang, Meta's Superintelligence Labs now includes prominent figures such as former GitHub CEO Nat Friedman, AI startup founder Daniel Gross, and Scale AI co-founder Alexandr Wang.
Article Link: Meta Offered Apple AI Executive Over $200 Million to Leave
This is not about another AI Distinguished Engineer at Apple AI/ML lured by Meta. It is about Meta making sure Apple doesn't become Meta's competitor in the AI space by decimating Apple's AI talent.
What a joke! If this guy were some brilliant prodigy coder or had some intuition into AI that he alone can actualize he would have already started his own company. This just proves that when its other people’s money, as in a public corporation with no one to answer to, the money flows freely.