Neil Freiman

Many sports fans were quick to point out that because of its open AI windfall, Michigan could now have the upper hand in the NIL market.

Because remember, colleges pay their top players now and Michigan is rolling in the dough.

Not to mention they just won the men's college basketball championship.

Toby, it appears I went to the wrong U of M.

Right.

It is not rare for endowments to invest alongside Silicon Valley venture capitalists.

So I could put money into Koza Ventures or Reid Hoffman, who's the founder of LinkedIn's fund.

That is something that is common for endowments to do.

It is much rarer for them to do a direct stake like this because venture early stage companies can go bust venture.

much more often than they can turn into whatever OpenAI is now.

But there have been a few fun examples of endowments or schools making these bold bets early on in companies and then profiting wildly when there is an IPO.

In 2017, there was a Catholic high school also in the Bay Area.

They put a little money into Snap when they were an early company, when Snap IPO in 2017.

This high school made $24 million.

Yeah, and Sam Altman's going to have to testify this week.

There's also been a very popular meme coming from the trial, which is the text between Meera Murati and Sam Altman.

As remember, 2022, Sam Altman was booted from his position and then brought back by the board just a few days later.

There was so much leadership drama.

So as those discussions were taking place, Meera Murati, who is an executive at OpenAI at the time, was texting Sam Altman.

And Sam Altman asked her, can you indicate directionally good or bad?