Just came across something fascinating in the newly released OpenAI documents. Turns out Elon Musk actually backed a $10 billion ICO plan for OpenAI back in January 2018. Pretty wild when you think about it.

So here's what went down. During the peak of the 2017-18 ICO craze, OpenAI's founders and Musk were seriously discussing launching a token-based for-profit arm to fund the nonprofit's mission. The internal notes show Musk initially agreed this was the move. They were talking about the mechanics, the structure, all of it. But then something shifted. By the end of that same month, Musk had completely walked away from the idea. According to the documents, he concluded OpenAI wouldn't be able to raise enough capital through an ICO and decided to focus his energy on AI work at Tesla instead.

What's interesting is how this moment captures the height of crypto enthusiasm among mainstream tech figures. ICOs were everywhere in 2017-18, and even someone like Musk—who later became known for his complicated relationship with crypto—was seriously considering it as a funding mechanism. The regulatory environment was murky, investor appetite was insane, and token sales seemed like the future.

Musk ended up leaving OpenAI later that year anyway. His departure and the abandoned ICO plan basically shaped the organization structure we see today, this hybrid model combining a public benefit corporation with a controlling nonprofit. Pretty different path than what could have happened.

It's a good reminder of how quickly things shift in crypto and tech. What seemed inevitable in 2018 became completely outdated within a few years. Makes you think about what narratives we're chasing right now that might look equally strange in hindsight. Interesting stuff to keep in mind when evaluating current blockchain and AI projects.