3 ms·
btw, this is only controversial because the board chose to make it controversial there is nothing “worse” about it because OpenAI is a non-profit and would lik
by yieldcrv 3y ago
btw, this is only controversial because the board chose to make it controversial
there is nothing “worse” about it because OpenAI is a non-profit and would likely contract with this venture
the regulations against this kind of thing simply require
A) disclosure, for potential future donors
B) low thresholds of ownership to avoid self dealing regulations, which all VC backed companies are compliant with due to share dilution
the secret behind quick impressive fundraises that launder founder’s reputations into legendary status is that their non profits are investors as the “friends and family” or “lead investor”, and then outside investors follow suit and that reduces the non profit and the founder’s ownership percentages below noncompliant levels.
(This isn’t really a game that people can organically play. You either have deep pools of capital you control, or you don’t.)