Sam Altman reflects on turning down Goldman Sachs internship for startup journey
Sam Altman revealed he was pressured into accepting an internship at Goldman Sachs during college but ultimately declined the offer to pursue his startup, Loopt. Now, as CEO of OpenAI, he emphasizes the value of entrepreneurship over traditional banking careers and is actively recruiting talent from Wall Street.
Sam Altman, co-founder of OpenAI, shared his experience of being pressured into accepting an internship at Goldman Sachs during his college years but chose to decline it in favor of working on his startup, Loopt.
He believes that the startup environment offers more creative freedom compared to the hierarchical structure of banking, which he describes as focused on gaining respect rather than innovation.
OpenAI is now recruiting talent from Wall Street, having hired over 100 former investment bankers to help develop AI models and automate tasks traditionally performed by junior bankers. The company plans to expand its workforce to 8,000 by the end of the year.
CFO Sarah Friar stated that knowledge of AI tools is becoming essential in finance, similar to the necessity of knowing Excel. The finance sector is increasingly integrating AI technologies, with companies like Anthropic developing AI agents for financial workflows.