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I thought the for-profit AI startup with no higher purpose was OpenAI itself.
by whatshisface 3y ago
I thought the for-profit AI startup with no higher purpose was OpenAI itself.
- cornholio 3y agoIt is, only it has an exotic ownership structure. Sutskever has just used the features of that structure to install himself as the top dog. The next step is undoubtedly packing the board with his loyalists. Whoever thinks you can tame a 100 billion dollar company by putting a "non-profit" in charge of it, clearly doesn't understand people.
- dragonwriter 3y agoOpenAI is a nonprofit charity with a defined charitable purpose that has a for-profit subsidiary that is explicitly subordinated to the purpose of the nonprofit, to the extent investors in the subsidiary are advised in the operating agreement to treat investments as if they were more like donations, and that the firm will prioritize the charitable function of the nonprofit which retains full governance power over the subsidiary over returning profits, which it may never do.