Start off with a perfect replica of a human mind. Eliminate absolutely all measures regarding selfishness, self-delusion, and rationalisation ... Eventually, use the most optimal mind coming out of this process and increase its intelligence until it becomes a 'Friendly' A.I.
The mind does not have modules for these things that can be removed; they are implicit in the mind's architecture. Nor does it use an intelligence-fluid which you can pour in to upgrade. Eliminating mental traits and increasing intelligence are both extraordinarily complicated procedures, and the possible side effects if they're done improperly include many sorts of insanity.
At the recent London meet-up someone (I'm afraid I can't remember who) suggested that one might be able to solve the Friendly AI problem by building an AI whose concerns are limited to some small geographical area, and which doesn't give two hoots about what happens outside that area. Cipergoth pointed out that this would probably result in the AI converting the rest of the universe into a factory to make its small area more awesome. In the process, he mentioned that you can make a "fun game" out of figuring out ways in which proposed utility functions for Friendly AIs can go horribly wrong. I propose that we play.
Here's the game: reply to this post with proposed utility functions, stated as formally or, at least, as accurately as you can manage; follow-up comments explain why a super-human intelligence built with that particular utility function would do things that turn out to be hideously undesirable.
There are three reasons I suggest playing this game. In descending order of importance, they are: