For anyone as allergic to clickbait as I am, this seems to be the meat of the article, the rest is filler (lots of “wow”, “absolutely amazing”, and a backstory

For anyone as allergic to clickbait as I am, this seems to be the meat of the article, the rest is filler (lots of “wow”, “absolutely amazing”, and a backstory so extensive it’s almost a wonder it doesn’t go all the way back to the Napoleonic Wars): > At this point, Microsoft will have invested a total of $13B in OpenAI. Moreover, new VCs are in on the deal by buying up shares of employees that want to take some chips off the table. > However, the astounding size is not the only extraordinary thing about this deal. > First off, the ownership will be split across three groups. Microsoft will hold 49%, VCs another 49%, and the OpenAI foundation will control the remaining 2% of shares. > If OpenAI starts making money, the profits are distributed differently across four stages: > 1. First, early investors (probably Khosla Ventures and Reid Hoffman’s foundation) get their money back with interest. > 2. After that Microsoft is entitled to 75% of profits until the $13B of funding is repaid > 3. When the initial funding is repaid, Microsoft and the remaining VCs each get 49% of profits. This continues until another $92B and $150B are paid out to Microsoft and the VCs, respectively. > 4. Once the aforementioned money is paid to investors, 100% of shares return to the foundation, which regains total control over the company.