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If anybody holds those "PPU's" and this action messes up a financial aspect of them - either the revenue or their market value - then the courts are the proper
by yieldcrv 3y ago
If anybody holds those "PPU's" and this action messes up a financial aspect of them - either the revenue or their market value - then the courts are the proper venue to sort out what the fuck these things even are and how that interplays with the non profit duties
If anybody holds actual equity, same thing applies, just slightly simpler.
Its completely a "we'll see" moment, and a lesson in not ever doing anything aside from the Delaware C-Corp when outside investors are involved.
Open AI tried the non-profit only route and only received $130 million, even with the stacked deck they had. Our system simply isn't compatible with altruistically crowdfunding things that would be optimal to be funded. They added the for-profit component and are selling shares of it at an $80bn valuation, that reality is not compatible with the non-profit's mission and duties. That's fine, I am only stating it as matter of fact.
- hesdeadjim 3y agoYea, you know it was investor FOMO when they accepted the ridiculous corporate structure that OpenAI has.