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OpenAI releases former staffers from non-disparagement clauses
Economic Times
·
1y ago
Medial
OpenAI will release former employees from nondisparagement agreements and will not cancel vested equity for those who speak out about the company, according to a message sent to former employees. This change comes after concerns were raised about restrictions placed on employees. OpenAI had asked some employees to sign nondisparagement agreements tied to their shares, which could have led to equity being revoked if employees spoke negatively about the company. OpenAI will remove this language from exit paperwork and release former employees from nondisparagement agreements, unless the agreement was mutual.
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Former Wipro SVP challenges non-compete lawsuit, cites forensic audit in defence
Livemint
·
1y ago
Medial
Former Wipro senior vice-president, Mohd Ehteshamul Haque, has responded to allegations made against him by the company. Wipro had accused Haque of breaching non-compete clauses and misappropriation of confidential data after he joined Cognizant. Haque has filed a motion to dismiss the lawsuit, stating that a third-party forensic audit of his personal devices found no evidence of theft or misuse of Wipro's data. He also argues that Wipro had not provided evidence of him signing an employment agreement containing the non-compete clauses. Additionally, Haque's legal team has requested the case to be transferred to a court in California.
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Will no-poach agreements hold in India?
Livemint
·
1y ago
Medial
Indian IT services companies like Wipro and Infosys have raised concerns about breach of non-compete clauses when their senior employees joined rival company Cognizant. While such clauses are common in employment contracts, they are not legally enforceable in India according to Section 27 of the Indian Contract Act. Globally, no-poach agreements are prevalent but are facing scrutiny from regulators as they can restrict competition. In the future, companies may explicitly state rival firms to be avoided, although such provisions would still not be legally enforceable.
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From political interference to 'share a bed' claims: Who is Sarah Wynn-Williams? The ex-Meta executive behind ‘Careless People’ memoir
Business Today
·
4m ago
Medial
Sarah Wynn-Williams' memoir 'Careless People' critiques Meta’s corporate culture, alleging it prioritizes profit over ethics, spreads misinformation, incites violence, and faces political manipulation issues. The book highlights events like the 2016 US election and Myanmar violence. Meta dismisses these claims, attributing them to a "disgruntled activist," suggesting Wynn-Williams was fired for poor performance. The company is also legally challenging her using a non-disparagement agreement. Macmillan supports Wynn-Williams, opposing Meta's legal tactics.
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Sam Altman’s new order doesn’t include OpenAI’s chief scientist
Gizmodo
·
1y ago
Medial
Sam Altman has returned as CEO of OpenAI, along with his party members Greg Brockman as President and Mira Murati as CTO. However, Ilya Sutskever, co-founder and former chairman of OpenAI, has not returned yet and his position is yet to be determined. Altman mentions his respect and working relationship with Sutskever, but it is unclear why Sutskever did not return to his position. OpenAI's new board comprises of Quora CEO Adam D'Angelo, former Salesforce CEO Bret Taylor, and former US Treasury Secretary Larry Summers. Microsoft will also have a non-voting observer seat on the board to maintain communication with the CEO.
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Delhi High Court Sends Medikabazaar–Vivek Tiwari Dispute to Arbitration
OutlookIndia
·
3m ago
Medial
The Delhi High Court has referred the dispute between Medikabazaar and co-founder Vivek Tiwari to arbitration, according to arbitration clauses in existing agreements. The conflict began after Tiwari was removed from the board following allegations of financial misconduct. Despite attempts at settlement, tensions heightened with the activation of a police complaint against Tiwari. An arbitration panel, including a former Delhi High Court judge, will address the claims involving financial irregularities and governance failures.
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Sam Altman shuts down Elon Musk’s $97.4 billion bid for OpenAI: ‘No thank you’, makes counter offer for X
Livemint
·
5m ago
Medial
Elon Musk, backed by his company xAI and several investors, offered $97.4 billion to buy OpenAI's non-profit arm. This proposal intensified the rivalry with OpenAI, as Musk criticized OpenAI for straying from its original mission. OpenAI CEO, Sam Altman, publicly rejected the bid, humorously suggesting buying Musk’s X platform instead. OpenAI, co-founded by Musk and Altman, evolved from its non-profit roots to form a for-profit structure, prompting further disagreement between the two.
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After Cognizant, Tech Mahindra goes after former Infosys top talent
Livemint
·
10m ago
Medial
- A dozen former executives of Infosys have joined Tech Mahindra since March 2023, with three joining directly from Infosys and nine with prior experience at other companies. - Similarly, Nasdaq-listed Cognizant has experienced a similar exodus of executives from Infosys, with at least 10 joining after Ravi Kumar S. became CEO of Cognizant in January 2023. - Infosys reported its slowest growth since Salil Parekh became CEO in January 2018, with a full-year revenue growth of 1.9% to $18.6 billion for the year ended March 2024. - Tech Mahindra's revenue declined by 5% to end with $6.3 billion in FY24, while Cognizant saw a revenue slip of 0.39% to $19.4 billion in 2023. - The exodus can be attributed to the credentials and relationships built by the former Infosys executives, as well as the attractiveness of the leadership acumen of Ravi Kumar and Mohit Joshi. - The applicability of non-compete clauses in the IT services industry is still a work in progress, and organizations are taking steps to implement and enforce them.
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Expert warns UK trade deal may curb India’s policy flexibility
Inshorts
·
2m ago
Medial
India's free trade agreement with the UK may bring short-term export gains but could limit domestic policy flexibility in the long term, warns trade expert Abhijit Das. Key concerns include non-trade clauses on labour and environment, lowered tariff barriers, and stricter IPR norms. Analysts say that structural reforms at home remain more critical for sustained export growth.
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ChatGPT maker OpenAI hires Nextdoor's Sarah Friar as CFO
Economic Times
·
1y ago
Medial
Artificial intelligence firm OpenAI has announced the appointment of Sarah Friar, former CEO of Nextdoor, as its first chief financial officer. Additionally, Kevin Weil, a former employee of Twitter and Instagram, will join OpenAI as the chief product officer.
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OpenAI's Ilya Sutskever "deeply regrets" his actions leading to Sam Altman's ouster
Economic Times
·
1y ago
Medial
OpenAI's co-founder and chief scientist, Ilya Sutskever, expressed remorse for his involvement in the actions that led to the ouster of former CEO Sam Altman. Sutskever expressed his love for what they have built together at OpenAI and stated that he would do everything possible to reunite the company. This comes as Microsoft announced Altman and Greg Brockman, the former president of OpenAI, will be joining the tech giant to lead a new advanced AI research team. Altman's colleagues from OpenAI are also expected to join Microsoft.
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