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The interested parties would be taxpayers. I think some groups are trying to look into it. The issue is that they did R&D as a charity, donations to which are
by atom_arranger 5mo ago
The interested parties would be taxpayers. I think some groups are trying to look into it.
The issue is that they did R&D as a charity, donations to which are tax deductible, there may also be other benefits to being a charity during R&D but that’s a big one, then once the thing works, setup a for profit, sell ip at “fair value”, get some investment, then things are ready for business.
I read there’s no statute of limitations on a tax issue like this, so I guess it might be hanging over them indefinitely.
I’m not a big taxation and government fan, they’d probably just waste the money anyways. It does seem unfair OpenAI gets to use this loophole though, unless all companies can make their R&D investment tax deductible, and get any other benefits of this setup.
- Traster 5mo agoThe interested parties are the taxpayers, and in this case the legal mechanism for that was the California Attorney General approving OpenAI's restructuring. Here's the MOU: https://oag.ca.gov/system/files/attachments/press-docs/Final%20Executed%20MOU%20Between%20OpenAI%20and%20California%20AG%20re%20Notice%20of%20Conditions%20of%20Non-Objection%20%2810.27.2025%29%20%28Signed%20by%20OpenAI%29%20%28Signed%20by%20CA%20DOJ%29.pdf https://oag.ca.gov/system/files/attachments/press-docs/Final... There is no loophole here.