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OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

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Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#201

Post by ethanbond »

jampekka wrote: post #197
philipov wrote: post #184

Earlier quoted context omitted.

What are you talking about? Please quote the law you refer to, so we can evaluate what it really does, because I don't believe you. There is no law that forces all companies to always pick the most profitable action. Especially not for non-profit corporations.

For-profit LLCs' purpose by law is to make profit for its shareholders. In common law systems it may be to pinpoint to a specific law, but from judgements its clear[1]. In e.g. Finland it's plain and clear in the law too. Take time to smell the bullshit. [1] https://www.wakeforestlawreview.com/2012/04/our-continuing-s...

OpenAI is neither a for-profit nor an LLC. It’s a non-profit that (confusingly) owns a for-profit arm which very specifically disclaims any obligation to produce a profit.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#202

Post by infecto »

93po wrote: post #199
infecto wrote: post #110

Earlier quoted context omitted.

Regardless if you like or dislike Altman, it is just a constant distraction to bring up his sister. I think most/all have heard it 10x by now. It’s very old, there has never been more evidence and his sister is mentally unwell. It serves no purpose to a a thread about OpenAI buying chips from a company he is invested in. Does anyone get tired by the tech bros label always being thrown out when people disagree. Can we…

Do you feel this way when people mention Elon any time Tesla is discussed?

Yes. I don’t like Elon but I get tired of the way discussions devolve into tech bros are bad.

Maybe life has always been like this but I find it harder and harder to have meaningful discourse. If you disagree with someone then all of a sudden you get put into a generalized bucket.

Edit: I don’t like how Elon always handles himself in public and I don’t always agree with everything Altman does but we as humans are very different and that’s ok. The moment Tesla comes up all the Elon hate comes out of their holes.

In this case if the article was about some kind of misconduct or worse towards another person ok great let’s talk about his sister.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#203

Post by philipov »

jampekka wrote: post #197
philipov wrote: post #184

Earlier quoted context omitted.

What are you talking about? Please quote the law you refer to, so we can evaluate what it really does, because I don't believe you. There is no law that forces all companies to always pick the most profitable action. Especially not for non-profit corporations.

For-profit LLCs' purpose by law is to make profit for its shareholders. In common law systems it may be to pinpoint to a specific law, but from judgements its clear[1]. In e.g. Finland it's plain and clear in the law too. Take time to smell the bullshit. [1] https://www.wakeforestlawreview.com/2012/04/our-continuing-s...

https://insight.kellogg.northwestern.edu/article/shareholder...

    There are a lot of misconceptions about maximizing shareholder value, even among economists. But talk to a legal scholar or a corporate lawyer: a CEO or board is not legally obliged to maximize shareholder value. They need to maximize the value of the corporation and act in its best interest. Only when there is a change in legal control, such as a merger or imminent hostile takeover, do they have to maximize shareholder value.

    Just to be very clear: modern corporate law does not require profits at the expense of everything else, and maximizing profits or shareholder value is not the same thing as serving shareholders’ best interest.
The company is supposed to serve the best interests of the shareholders, but that does not require an unwavering commitment to profit. What it does require is defined in the company's investment prospectus. The CEO and board must act as good fiduciaries but they are given broad discretion to decide what that entails.

If you disagree with what the officers think is the best way to carry out these duties, the courts say your option is not to sue them, it is to invest in a different company.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#204

Post by mlazos »

tsimionescu wrote: post #174
doodlebugging wrote: post #102

Earlier quoted context omitted.

>She also has a history of mental illness. Was this diagnosed before he climbed into her bed when she was 4 y.o.? I'm no psychologist and I don't know what her own diagnosis involves but it seems that this diagnosis could be identifying a condition that resulted from abuse dealt by someone that she normally would trust. Overall from what I have read the last few weeks Altman seems to be an unethical sleeze who decide…

The point is that we don't know if what she is saying is true. I believe that she believes what she is saying, but that doesn't necessarily make it true. Per all that she has said, this is a memory from when she was 4 - it could be extremely distorted by now. Even if it is entirely true (her family denies it), he was a small child when doing it - it is very much believable that at 13 he wouldn't even fully understand…

I don’t think it matters if he understands, imo if this is actually true (which we will never know) that’s definitely messed up. Most 13 year olds know that this is wrong.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#205

Post by JumpinJack_Cash »

p1dda wrote: post #74
nabla9 wrote: post #53

This kind of stuff is the reason why Altman was fired. The board lost trust for his honesty from many small things that kept accumulating. Altman is back on condition that there is a investigation.

Who can forget "the orb", altman seems like a complete clown who lucked into the holy grail that is openai: https://fortune.com/crypto/2023/03/21/sam-altman-orb-scan-ey...

> > Who can forget "the orb", altman seems like a complete clown who lucked into the holy grail that is openai

It's like that for every billionaire, humanity will make some X progress in some Y field and some lucky schnook will find themselves in the epicenter of it all.

Just like on the other hand an Earthquake will stuck in coordinates X,Y and some poor unlucky schnook Z will find themselves in the epicenter of it all

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#206

Post by loceng »

darkerside wrote: post #137
andrew_ wrote: post #131

Earlier quoted context omitted.

Personally directed comments aren't typically welcome here. Attack the topic or opinion, not the person.

I wasn't attacking the person, rather the style of argument being made. Ironically, your follow up comment does point out the typical HN rush to judgment, a much more literal ad hominem.

It's been at least the last 5 years that an ideological mob has seemed to gain traction here.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#207

Post by loceng »

andrew_ wrote: post #126
loceng wrote: post #69

Earlier quoted context omitted.

You don't think that's at least a bit of an apples to oranges comparison?

I don't. And I'll take the points hit. OpenAI isn't a government agency or entity. They're free to no-bid or to use and purchase resources that someone within the company has ties to. The replies here are loaded with accusations of fraud; A typical HN rush to judgement.

It started off as a not-for-profit and $100+ million from Elon, and then somehow transitioned into having a for-profit wing. Do you see any ethical issues with that?

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#208

Post by lawn »

93po wrote: post #191
lawn wrote: post #44

Earlier quoted context omitted.

A cryptocurrency is supposed to be decentralized, but how do you verify that the biometrics that are registered in Worldcoin are genuine in a decentralized manner? The answer is that you don't, and Worldcoin is just another giant ball of shit.

Both hardware and software are reviewed by third party audit

So they can confirm that Worldcoin is centrally controlled?

Yeah, that doesn't help decentralization.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#209

Post by jampekka »

ethanbond wrote: post #201
jampekka wrote: post #197

Earlier quoted context omitted.

For-profit LLCs' purpose by law is to make profit for its shareholders. In common law systems it may be to pinpoint to a specific law, but from judgements its clear[1]. In e.g. Finland it's plain and clear in the law too. Take time to smell the bullshit. [1] https://www.wakeforestlawreview.com/2012/04/our-continuing-s...

OpenAI is neither a for-profit nor an LLC. It’s a non-profit that (confusingly) owns a for-profit arm which very specifically disclaims any obligation to produce a profit.

If there are no special clauses in OpenAI Global LLC charter, Microsoft can sue if OpenAI Inc if they decline to do something profitable for e.g. moral reasons.

51% ownership doesn't mean you can do anything you want with the company. It's sort of a main point of a LLC.

Re: OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman

#210

Post by ethanbond »

jampekka wrote: post #209
ethanbond wrote: post #201

Earlier quoted context omitted.

OpenAI is neither a for-profit nor an LLC. It’s a non-profit that (confusingly) owns a for-profit arm which very specifically disclaims any obligation to produce a profit.

If there are no special clauses in OpenAI Global LLC charter, Microsoft can sue if OpenAI Inc if they decline to do something profitable for e.g. moral reasons. 51% ownership doesn't mean you can do anything you want with the company. It's sort of a main point of a LLC.

There are special clauses. Look up the OpenAI purple box.
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