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Yeah but the board just took this action on purpose and decisively. Who outranks them? I don’t get the premise. You’ve implied twice that they could lose their

by CPLX 3y ago

Yeah but the board just took this action on purpose and decisively. Who outranks them? I don’t get the premise. You’ve implied twice that they could lose their seats over it. How? By what mechanism? Challenged in court or presented with a resignation letter by whom? Seems to me they’re the top of the org chart. They’re only accountable in the sense that employees can quit or they can run out of money. But they happen to have direct control of one of the most valuable pieces of technology ever created so what exactly are you suggesting will happen.

jacquesm 3y ago
Nobody, including a board of directors is inviolable, it all depends on who the stakeholders of the non-profit are, the board is in principle independent but ultimately the judiciary still has more power than they do. Depending on the bylaws it could be stakeholder: donors, beneficiaries or the employees of the non-profit in some organized form. All of these could petition the court if they feel that the non-profit wasn't governed properly. Note that it isn't known if the board acted unanimously (likely it it didn't) and what the grounds were. That will make a big difference to any outcome. Non profits that lose their donors (especially if the money was pledged but not yet committed) usually don't live long so the board has some incentive to play ball.
- CPLX 3y ago
  I mean yeah anyone can sue anyone, that’s a generally known fact. But you said: “I fully expect the board to be replaced” Ok, sure. By who? When? I don’t see any reason to think that unless there’s a really genuinely large scale staff revolt.
  - jacquesm 3y ago
    > unless there’s a really genuinely large scale staff revolt That's already underway, see other news about resignations at OpenAI, also donors have a very strong play to make. Donors could simply withhold the next tranche, but possibly they can funnel enough money upwards from the for-profit to compensate for that. Even so I would expect the other shareholders in the for-profit to be furious, especially those that liked Altman. So they're going to have to do some explaining because right now this does not deserve the beauty prize, to put it mildly.

by CPLX 3y ago

jacquesm 3y ago

Nobody, including a board of directors is inviolable, it all depends on who the stakeholders of the non-profit are, the board is in principle independent but ultimately the judiciary still has more power than they do. Depending on the bylaws it could be stakeholder: donors, beneficiaries or the employees of the non-profit in some organized form. All of these could petition the court if they feel that the non-profit wasn't governed properly. Note that it isn't known if the board acted unanimously (likely it it didn't) and what the grounds were. That will make a big difference to any outcome. Non profits that lose their donors (especially if the money was pledged but not yet committed) usually don't live long so the board has some incentive to play ball.

CPLX 3y ago
I mean yeah anyone can sue anyone, that’s a generally known fact. But you said: “I fully expect the board to be replaced” Ok, sure. By who? When? I don’t see any reason to think that unless there’s a really genuinely large scale staff revolt.
- jacquesm 3y ago
  > unless there’s a really genuinely large scale staff revolt That's already underway, see other news about resignations at OpenAI, also donors have a very strong play to make. Donors could simply withhold the next tranche, but possibly they can funnel enough money upwards from the for-profit to compensate for that. Even so I would expect the other shareholders in the for-profit to be furious, especially those that liked Altman. So they're going to have to do some explaining because right now this does not deserve the beauty prize, to put it mildly.