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Microsoft reportedly invested 13 billion dollars and has a generous profit sharing agreement. They don’t have enough to control OpenAI, but does that mean the c
by exitb 3y ago
Microsoft reportedly invested 13 billion dollars and has a generous profit sharing agreement. They don’t have enough to control OpenAI, but does that mean the company can actively steer away from profit?
- dragonwriter 3y ago> They don’t have enough to control OpenAI Especially since the operating government effectively gives the nonprofit board full control. > They don’t have enough to control OpenAI, but does that mean the company can actively steer away from profit? Yes. Explicitly so. https://openai.com/our-structure https://openai.com/our-structure and particularly https://images.openai.com/blob/142770fb-3df2-45d9-9ee3-7aa069acada1/image1.png https://images.openai.com/blob/142770fb-3df2-45d9-9ee3-7aa06...
- cthalupa 3y agoYes. Microsoft had to sign an operating agreement when they invested that said the company has no responsibility or obligation to turn a profit. LLCs are able to structure themselves in such a way that their primary duty is not towards their shareholders. https://openai.com/our-structure https://openai.com/our-structure - check out the pinkish-purpleish box. Every investor and employee in the for-profit has to agree to this as a condition of their investment/employment.
- kristjansson 3y agoJust the pure chutzpah to say > with the understanding that it may be difficult to know what role money will play in a post-AGI world