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And how does this non-profit pay for its immense server costs?
by BoiledCabbage 3y ago
And how does this non-profit pay for its immense server costs?
- deleted 3y ago[deleted]
- Obscurity4340 3y agoAll corporations are basically Russian dolls at this point.
- fakedang 3y agoThe point still stands, the board does not have "investors". Microsoft knowingly donated to the for profit entity of the non profit. Open AI isn't a PBC, it's a 501c non profit. So the board can act that way, without the knowledge of the investors. That being said, this is a case of biting the hand that feeds you. An equivalent would be if a nonprofit humiliated its biggest donor. The donor can always walk away, claiming her future donations away, but whatever she's donated stays at the nonprofit.
- lsh123 3y agoI hope IRS is watching this ;)
- dragonwriter 3y agoWatching what? A 501c3 being publicly pressured to make key governance decisions for the commercial benefits of investors in the 501c3's for-profit indirect subsidiary rather than the board's good-faith interpretation of its charitable purpose? Why would they care about that?
- sotix 3y agoNon-profits still earn money recorded as net assets. They do not retain earnings at the end of the accounting period to store in shareholder’s equity because there are no shareholders that own the non-profit.
- stingraycharles 3y agoYou’re interpreting it as a lawyer would, rather than considering the real-world implications of this.
- sotix 3y agoI’m interpreting it as a CPA
- dchichkov 3y agoIt seems that OpenAI had switched to pre-paid billing. If anyone is interested helping, they can go and pre-pay. And support the non-profit. I'd guess, OpenAI without Sam Altman and YC/VC network is toothless. And Microsoft's/VC/media leverage over them is substantial.