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The restructuring is designed in part to make OpenAI more attractive to investors I'm not surprised in the least. Who is going to give billions to a non-profi
by refurb 2y ago
The restructuring is designed in part to make OpenAI more attractive to investors
I'm not surprised in the least.
Who is going to give billions to a non-profit with a bizarre structure where you don't actually own a part of it but have some "claim" with a capped profit? Can you imagine bringing that to Delaware courts if there was disagreement over the terms? Investors can risk it if it's a few million, but good luck convincing institutional investors to commit billions with that structure.
At that point you might as well just go with a standard for-profit model where ownership is clear, terms are standard and enforceable in court and people don't have to keep saying "explain how it works again?".