3 ms·
The foundation still owns the vast majority of the company
by riv991 2y ago
The foundation still owns the vast majority of the company
- michaelt 2y agoYeah, and the openai nonprofit still owns a majority of the openai for-profit company. Turns out that doesn't mean shit.
- riv991 2y agoYou can argue the complete opposite point with Novo Nordisk. It's up to the foundation to use it's influence
- ActionHank 2y agoSo if the foundation makes decisions that drive stock up in the short term, they make themselves richer? Definitely won't be abused /s
- nashashmi 2y agoMaybe, but I think part of the fear behind the IPO is that some bully type investor like Icahn will do a takeover/weigh-in and mess it up, towards a profit driven enterprise. With major ownership held by someone else, this becomes less likely.
- nashashmi 2y agowait! The foundation sells Pis? What does the for-profit company do? Hell, where did the foundation get its money before?
- account42 2y agoAnd the worth of that stake is now directly tied to stock performance.