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I've wondered if there's any potential legal ramifications for the now for-profit not-for-profit due to their beginnings, e.g. if good faith was involved wouldn

by loceng 3y ago

I've wondered if there's any potential legal ramifications for the now for-profit not-for-profit due to their beginnings, e.g. if good faith was involved wouldn't Elon have a significant share of the for-profit OpenAI for his jump starting the whole thing?

gdsdfe 3y ago
The kept the non-profit just to save face and avoid a PR disaster, in reality it means absolutely nothing - openAI is a for profit now
gigel82 3y ago
What other amazing things did Elon "jump start"? Did he also invent the internet, the wheel, fire? "In December 2015, Sam Altman, Greg Brockman, Reid Hoffman, Jessica Livingston, Peter Thiel, Elon Musk, Amazon Web Services (AWS), Infosys, and YC Research announced[22] the formation of OpenAI and pledged over $1 billion to the venture. The actual collected total amount of contributions was only $130 million until 2019." https://en.wikipedia.org/wiki/OpenAI#2015%E2%80%932018:_Non-profit_beginnings https://en.wikipedia.org/wiki/OpenAI#2015%E2%80%932018:_Non-... "In fact, while the source of much of OpenAI’s funding remains unclear, filings contain only around $15 million of donations that can be traced definitively back to Musk." https://techcrunch.com/2023/05/17/elon-musk-used-to-say-he-put-100m-in-openai-but-now-its-50m-here-are-the-receipts/ https://techcrunch.com/2023/05/17/elon-musk-used-to-say-he-p...
- what 3y ago
  I’m not sure what your point is? Your quote lists nine entities pledging $1B. Only $130M was collected, $15M surely being from Musk. So he contributed at least 11.5%, which is in line with nine entities contributing. How much money can be traced back to Altman or Brockman, who are also on that list?
bbor 3y ago
“Good faith” is not “we want to be nice to a billionaire”. He didn’t bow out of a race, he left the board of a nonprofit due to conflicts of interest and lack of time. So I’d say that “we should give Elon free money for being here at the start” is not gonna be a very popular argument
tremarley 3y ago
They're is a limit to the amount of profit that the OpenAI investors can retrieve. The corporate structure isn't built to be a cashcow for them. This is how OpenAI can continue claiming it's a non-profit. Although it's a not a total profitable company, doesn't mean that the investors cannot monetize and build of its use, for example the use of Microsoft 365, Bing, Azure, access to training data and usage statistics.

by loceng 3y ago

gdsdfe 3y ago

The kept the non-profit just to save face and avoid a PR disaster, in reality it means absolutely nothing - openAI is a for profit now

gigel82 3y ago

What other amazing things did Elon "jump start"? Did he also invent the internet, the wheel, fire? "In December 2015, Sam Altman, Greg Brockman, Reid Hoffman, Jessica Livingston, Peter Thiel, Elon Musk, Amazon Web Services (AWS), Infosys, and YC Research announced[22] the formation of OpenAI and pledged over $1 billion to the venture. The actual collected total amount of contributions was only $130 million until 2019." https://en.wikipedia.org/wiki/OpenAI#2015%E2%80%932018:_Non-profit_beginnings https://en.wikipedia.org/wiki/OpenAI#2015%E2%80%932018:_Non-... "In fact, while the source of much of OpenAI’s funding remains unclear, filings contain only around $15 million of donations that can be traced definitively back to Musk." https://techcrunch.com/2023/05/17/elon-musk-used-to-say-he-put-100m-in-openai-but-now-its-50m-here-are-the-receipts/ https://techcrunch.com/2023/05/17/elon-musk-used-to-say-he-p...

what 3y ago
I’m not sure what your point is? Your quote lists nine entities pledging $1B. Only $130M was collected, $15M surely being from Musk. So he contributed at least 11.5%, which is in line with nine entities contributing. How much money can be traced back to Altman or Brockman, who are also on that list?

bbor 3y ago

“Good faith” is not “we want to be nice to a billionaire”. He didn’t bow out of a race, he left the board of a nonprofit due to conflicts of interest and lack of time. So I’d say that “we should give Elon free money for being here at the start” is not gonna be a very popular argument

tremarley 3y ago

They're is a limit to the amount of profit that the OpenAI investors can retrieve. The corporate structure isn't built to be a cashcow for them. This is how OpenAI can continue claiming it's a non-profit. Although it's a not a total profitable company, doesn't mean that the investors cannot monetize and build of its use, for example the use of Microsoft 365, Bing, Azure, access to training data and usage statistics.