Business
Karen Hao on the Empire of AI, AGI evangelists, and the cost of belief

At the center of every empire is an ideology, a belief system that propels the system forward and justifies expansion – even if the cost of that expansion directly defies the ideology’s stated mission.
For European colonial powers, it was Christianity and the promise of saving souls while extracting resources. For today’s AI empire, it’s artificial general intelligence to “benefit all humanity.” And OpenAI is its chief evangelist, spreading zeal across the industry in a way that has reframed how AI is built.
“I was interviewing people whose voices were shaking from the fervor of their beliefs in AGI,” Karen Hao, journalist and bestselling author of “Empire of AI,” told TechCrunch on a recent episode of Equity.
In her book, Hao likens the AI industry in general, and OpenAI in particular, to an empire.
“The only way to really understand the scope and scale of OpenAI’s behavior…is actually to recognize that they’ve already grown more powerful than pretty much any nation state in the world, and they’ve consolidated an extraordinary amount of not just economic power, but also political power,” Hao said. “They’re terraforming the Earth. They’re rewiring our geopolitics, all of our lives. And so you can only describe it as an empire.”
OpenAI has described AGI as “a highly autonomous system that outperforms humans at most economically valuable work,” one that will somehow “elevate humanity by increasing abundance, turbocharging the economy, and aiding in the discovery of new scientific knowledge that changes the limits of possibility.”
These nebulous promises have fueled the industry’s exponential growth — its massive resource demands, oceans of scraped data, strained energy grids, and willingness to release untested systems into the world. All in service of a future that many experts say may never arrive.
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Hao says this path wasn’t inevitable, and that scaling isn’t the only way to get more advances in AI.
“You can also develop new techniques in algorithms,” she said. “You can improve the existing algorithms to reduce the amount of data and compute that they need to use.”
But that tactic would have meant sacrificing speed.
“When you define the quest to build beneficial AGI as one where the victor takes all — which is what OpenAI did — then the most important thing is speed over anything else,” Hao said. “Speed over efficiency, speed over safety, speed over exploratory research.”
For OpenAI, she said, the best way to guarantee speed was to take existing techniques and “just do the intellectually cheap thing, which is to pump more data, more supercomputers, into those existing techniques.”
OpenAI set the stage, and rather than fall behind, other tech companies decided to fall in line.
“And because the AI industry has successfully captured most of the top AI researchers in the world, and those researchers no longer exist in academia, then you have an entire discipline now being shaped by the agenda of these companies, rather than by real scientific exploration,” Hao said.
The spend has been, and will be, astronomical. Last week, OpenAI said it expects to burn through $115 billion in cash by 2029. Meta said in July that it would spend up to $72 billion on building AI infrastructure this year. Google expects to hit up to $85 billion in capital expenditures for 2025, most of which will be spent on expanding AI and cloud infrastructure.
Meanwhile, the goal posts keep moving, and the loftiest “benefits to humanity” haven’t yet materialized, even as the harms mount. Harms like job loss, concentration of wealth, and AI chatbots that fuel delusions and psychosis. In her book, Hao also documents workers in developing countries like Kenya and Venezuela who were exposed to disturbing content, including child sexual abuse material, and were paid very low wages — around $1 to $2 an hour — in roles like content moderation and data labeling.
Hao said it’s a false tradeoff to pit AI progress against present harms, especially when other forms of AI offer real benefits.
She pointed to Google DeepMind’s Nobel Prize-winning AlphaFold, which is trained on amino acid sequence data and complex protein folding structures, and can now accurately predict the 3D structure of proteins from their amino acids — profoundly useful for drug discovery and understanding disease.
“Those are the types of AI systems that we need,” Hao said. “AlphaFold does not create mental health crises in people. AlphaFold does not lead to colossal environmental harms … because it’s trained on substantially less infrastructure. It does not create content moderation harms because [the datasets don’t have] all of the toxic crap that you hoovered up when you were scraping the internet.”
Alongside the quasi-religious commitment to AGI has been a narrative about the importance of racing to beat China in the AI race, so that Silicon Valley can have a liberalizing effect on the world.
“Literally, the opposite has happened,” Hao said. “The gap has continued to close between the U.S. and China, and Silicon Valley has had an illiberalizing effect on the world … and the only actor that has come out of it unscathed, you could argue, is Silicon Valley itself.”
Of course, many will argue that OpenAI and other AI companies have benefitted humanity by releasing ChatGPT and other large language models, which promise huge gains in productivity by automating tasks like coding, writing, research, customer support, and other knowledge-work tasks.
But the way OpenAI is structured — part non-profit, part for-profit — complicates how it defines and measures its impact on humanity. And that’s further complicated by the news this week that OpenAI reached an agreement with Microsoft that brings it closer to eventually going public.
Two former OpenAI safety researchers told TechCrunch that they fear the AI lab has begun to confuse its for-profit and non-profit missions — that because people enjoy using ChatGPT and other products built on LLMs, this ticks the box of benefiting humanity.
Hao echoed these concerns, describing the dangers of being so consumed by the mission that reality is ignored.
“Even as the evidence accumulates that what they’re building is actually harming significant amounts of people, the mission continues to paper all of that over,” Hao said. “There’s something really dangerous and dark about that, of [being] so wrapped up in a belief system you constructed that you lose touch with reality.”
Business
Canadian AI company Cohere opens Paris hub to expand EMEA operations – eeNews Europe
Business
Payhawk transforms spending experience for businesses with four enterprise-ready AI agents

- Financial Controller, Procurement, Travel, and Payments agents act within policy – giving finance more control and eliminating busywork.
- For employees, forms, tickets, policies, reports and finance jargon are replaced with natural language conversation.
- Payhawk’s Fall ’25 Product Edition also includes global payments at 0.3% FX in 115 currencies.
LONDON, Sept. 16, 2025 (GLOBE NEWSWIRE) — Payhawk, the finance orchestration and spend management platform, today announced its Fall ’25 Product Edition, expanding its AI Office of the CFO stack. The release brings a coordinated set of AI agents — Financial Controller, Procurement, Travel, and Payments — that complete everyday finance work, following the roles, policies, and approvals finance already sets with a full audit trail.
Employees make natural-language requests, and the agents guide them end-to-end through each process, collecting approvals in the background. Over time, agents learn preferences and anticipate needs, so tasks are completed faster and with less wasted effort.
“Enterprises don’t need more chat, they need outcomes,” said Hristo Borisov, CEO and Co-founder of Payhawk. “The majority of agents on the market today lack enterprise capabilities to be adopted at scale, such as permissions, policies, multi-tenancy, audit trails, and data security standards – all absolutely critical when it comes to business payments. Our AI agents act within your controls and finish real finance tasks, so the easy thing for employees is also the right thing for the business.”
Invisible orchestration by design
Payhawk’s agents operate within existing roles, permissions, and policies, keeping data in-platform and logging every action for auditability. Finance teams gain control and visibility, while repetitive busywork is eliminated.
What each аgent handles
- Financial Controller Agent — Speeds up month-end closing by chasing receipts and uploading documents from vendor portals automatically, flagging anomalies, and escalating reminders around close. Expenses are submitted 2x faster.
- Procurement Agent — Employees say what they need; the agent gathers context, applies budgets and policy, routes approvals, increases card limits or creates purchase orders — no forms, fewer tickets and reminders. Request to purchase time reduced by 60%.
- Travel Agent — Books within policy via natural language based on user preferences, then auto-creates a trip report and groups expenses for one-click approval and ERP export. Saves up to 90 minutes per trip.
- Payments Agent — Deflects approximately 40% of helpdesk work for your finance team by giving instant answers on failed transactions, blocked cards, pending reimbursements or funding issues and proposes compliant next steps.
Beyond the release of the AI Office of the CFO, Payhawk’s Fall ’25 Product Edition includes global payments at 0.3% FX in 115 currencies in partnership with JP Morgan Payments, enhanced role/permission controls, and additional platform improvements.
Payhawk will be hosting a product showcase on October 2nd 2025. To sign up, visit https://payhawk.com/editions/fall-2025.
About Payhawk
Payhawk is the finance orchestration platform that unifies global spend management with intelligent automation and real-time payments. Our solution combines corporate cards, expense management, accounts payable, and procure-to-pay in a single platform — eliminating manual processes that slow companies down.
Unlike solutions that force a trade-off between powerful controls and great user experience, Payhawk delivers both, enabling finance teams to drive efficiency and growth while maintaining control. Headquartered in London with 9 offices across Europe and the US, Payhawk serves mid-market and enterprise companies in 32+ countries. Learn more at www.payhawk.com.
Georgi Ivanov
Senior Communications Manager
georgi.ivanov@payhawk.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e27967d8-aa3f-4532-a4f4-d36c2a530404
Business
Former xAI CFO Named OpenAI’s New Business Finance Officer

OpenAI has hired Mike Liberatore, the former chief financial officer at Elon Musk’s AI company xAI, CNBC reported on September 16.
Liberatore’s LinkedIn profile lists his current role as the business finance officer at OpenAI. His tenure at xAI lasted merely four months, and previously, he worked as the vice president of finance and corporate development at Airbnb.
The report added that Liberatore will report to OpenAI’s current CFO, Sarah Friar, and will work with co-founder Greg Brockman’s team, which manages the contracts and capital behind the company’s compute strategy.
According to The Wall Street Journal’s report, Liberatore was involved with xAI’s funding efforts, including a $5 billion debt sale in June. He also oversaw xAI’s data centre expansion in Memphis, Tennessee, in the United States. The reasons for his departure remain unknown.
Liberatore is an addition to the list of recent high-profile departures from xAI. Last month, Robert Keele, who was the general counsel at the company, announced his departure, stating that there were differences between his worldviews and Musk’s.
The WSJ report also added that Raghu Rao, a senior lawyer overseeing the commercial and legal affairs for the company, left around the same time.
Furthermore, Igor Babuschkin, the co-founder of the company, also announced last month that he was leaving xAI to start his own venture capital firm.
That being said, Liberatore’s appointment at OpenAI comes at a time when the company has announced significant structural changes.
OpenAI recently announced that its nonprofit division will now be ‘paired’ with a stake in its public benefit corporation (PBC), valued at over $100 billion. The company also announced it has signed a memorandum of understanding with Microsoft to transform its for-profit arm into a PBC. This structural change was initially announced by OpenAI in May.
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