Sam Altman makes ‘mic drop’ offer to every Y Combinator startup
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- Sam Altman offered $2 million in OpenAI tokens to each of the 169 Y Combinator startups in exchange for equity.
- Y Combinator structures the offer as an uncapped SAFE that converts at the startup’s first priced round (typically Series A) without a valuation ceiling.
- OpenAI gains equity and encourages startups to build on its platform, potentially limiting competition from rivals like Anthropic.
- Jason Calacanis warned that accepting the tokens could let OpenAI copy founders’ ideas and launch competing free services.
- OpenAI tokens could represent about 2 % equity if a startup reaches a $100 M valuation, according to speculation on X, though terms are not confirmed.
Why it matters: YC startups get free AI compute worth $2 M, cutting costs, while OpenAI secures early‑stage equity and locks founders into its ecosystem—potentially crowding out rivals like Anthropic.
