(NewsNation) — Every summer, tech and media moguls meet for a special gathering in Sun Valley, Idaho.
Dubbed the “summer camp for billionaires,” the Allen & Co. Sun Valley Conference took place earlier this week, where billionaires and CEOs struck deals for their businesses or ventures.
Who is behind the event? Who were the major players in attendance? What was so big about it this year?
Who’s in charge of the ‘summer camp for billionaires’?
The “summer camp for billionaires’ is run by Allen and Company, a boutique investment firm that specializes in real estate, technology, media, and entertainment.
The firm, founded in 1922, has invested, founded or provided advice for companies including BET, Discovery Communications, News Corporation, Coca-Cola, and Google.
The event lasted several days at the Sun Valley Lodge. The gathering has been taking place since 1983 and was founded by Herbert Allen Jr.
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Who are the major players who attended this year’s event?
This year’s “summer camp for billionaires” included a who’s who of names from the technology, business and entertainment worlds.
Among the VIP guests were Apple CEO Tim Cook, Amazon founder Jeff Bezos, OpenAI boss Sam Altman, and Meta’s Mark Zuckerberg.
Google’s Sundar Pichai, Disney’s Bob Iger, and Spotify’s Daniel Ek were also part of the event. Additional attendees included LinkedIn co-founder Reid Hoffman, Yahoo CEO Jim Lanzone, News Corp. CEO Robert Thomson, Uber CEO Dara Khosrowshahi, and Coinbase CEO Brian Armstrong.
What was the big topic at this year’s event?
The rapid emergence of artificial Intelligence was all the talk of the event this past week.
OpenAI’s Sam Altman and Meta’s Mark Zuckerberg drew attention due to the evolving race for top AI talent.
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Just a month ago, Altamn publicly criticized Meta’s recruitment strategies and accused Meta of offering large payments and benefits to poach engineers away from OpenAI.
In the AI space, obtaining leading researchers has become just as crucial as acquiring companies.
