4 ms·
This line is really interesting: > The best interests of the company and the mission always come first. That is absolutely not true for the nonprofit inc. The
by Grae 3y ago
This line is really interesting:
> The best interests of the company and the mission always come first.
That is absolutely not true for the nonprofit inc. The mission comes first. Full stop. The company (LLC) is a means to that end.
Very interested to see how this governance situation continues to change.
- jprete 3y agoThere's absolutely no sense in talking about OpenAI as a nonprofit at this point. The new board and Altman talk about the governance structure changing, and I strongly believe they will maximize their ability to run it as a for-profit company. 100x profit cap is a very large number on an $80 billion valuation.
- jacquesm 3y agoThere never was. But they successfully planted the seeds to make people think it is that way.
- didibus 3y agoYa, it's a joke at this point. Better they just kill the non-profit and stop pretending.
- krick 3y agoSurely they don't do it without a reason. And I don't know what the reason is, but I must assume it's some financial benefit (read, tax evasion), and not our opinion.
- crazydoggers 3y agoBut then they’d have to pay taxes, and all those corporations don’t get the juicy tax detections for “donating” to AI tech that will massively increase their profits.
- bmitc 3y agoWhy doesn't the government do it for them, fining them along the way?
- sanderjd 3y agoI have no idea how it will all play out, but I will be shocked if there is no government investigation coming out of all this.
- bmitc 3y agoYea, it seems really weird that he and others can just form a non-profit and then later have it own a for-profit with the full intention of turning everything into a for-profit enterprise. Seems like tax evasion and a few other violations of what a non-profit is supposed to be.
- sanderjd 3y agoYep, if this is an acceptable fact pattern, it seems to create a bunch of loopholes in the legal treatment of non-profits vs for-profits. I think the simpler conclusion is that it actually isn't an acceptable fact pattern, and we'll be seeing fines or other legal action.
- simbolit 3y agoChange the name while you are at it; the company is not any more "open" than the next shop.
- sanderjd 3y agoIndeed, I think it's the least open of them all?
- 93po 3y ago100x is basically just a “they won’t literally take over the economy of the entire planet”