2 ms·
They were not-for-profit until the potential for large-scale profit emerged, at which point they decided to become for-profit. It's taking the whole 'socialize
by somenameforme 2y ago
They were not-for-profit until the potential for large-scale profit emerged, at which point they decided to become for-profit. It's taking the whole 'socialize costs, privatize profits' to an entirely new level.
The exact legalese preventing or enabling this is unclear to me, but if it became a norm then basically every for-profit startup would likely start out as a not-for-profit taking advantage of all that offers and then segueing to for-profit when big investment/sales opportunities emerge, and at this point we're making a mockery of everything these classifications are supposed to stand for.