371–380 of 1001 posts
Obviously that's strange for a non-profit, but when you hear of a breach of fiduciary duty suit it's usually because someone didn't do something to make more money, not less.
It almost feels more like an accusation of fraud than breach of duty.
There is a lot in here but turning a non-profit into a for-profit definitely should be challenged. Otherwise why wouldn't everyone start as a non-profit, develop your IP, and then switch to 'for-profit' mode once you got something that works? You don't pay income taxes and your investors get write offs.
Isn't this how drugs get developed? Even worse, the research is done using public funds, and then privatized and commercialized later.
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the statements made by the board were likely sufficient to trigger invesigation and the current iteration of the government (2010+) wants to have dirt on anything this big
Still not as big as Halliburton, I feel it’s the opposite the government isn’t detaining these obvious frauders and now they run amock.
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Musk is even more cartoonishly villainous than MS. This is pretty much Lex Luthor against Darkseid. Unless it results in mutual destruction, doesn't matter who wins, everybody else loses. My take is that Elon is suing OpenAI because he left OpenAI before they opened a commercial venture, which means he doesn't benefit from the companies current valuation, so he's using the courts to try to strong arm the foundation i…
Yeah that'd be the ideal turn of events, if both M$ and Elon got fucked by this In my dream world we'd nuke M$ from orbit and splinter it into a trillion tiny little pieces... A man can dream
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The replies that say "well the profits go to the non-profit, all's good" miss the reality of these high profit nonprofits: the profits invariably end up in the pockets of management. Most of those are essentially scams, but it doesn't mean that OpenAI isn't just a more subtle scam. The hype and the credulity of the general public play right into this scam. People will more or less believe anything Sam the Money Gushi…
"Why is the NFL a non-profit: https://www.publicsource.org/why-is-the-nfl-a-nonprofit/ The total revenue of the NFL has been steadily increasing over the years, with a significant drop in 2020 due to the impact of the COVID-19 pandemic12. Here are some figures: 2001: $4 billion 2010: $8.35 billion 2019: $15 billion 2020: $12.2 billion 2021: $17.19 billion 2022: $18 billion
no longer a non-profit but no less hypocritical
There is a lot in here but turning a non-profit into a for-profit definitely should be challenged. Otherwise why wouldn't everyone start as a non-profit, develop your IP, and then switch to 'for-profit' mode once you got something that works? You don't pay income taxes and your investors get write offs.
They didn't "turn it into" a for-profit though, they created a separate for-profit arm. This one is unusually successful but that's not an unusual thing for even "regular" charities to do in order to engage in some activities that they wouldn't normally be able to.
What's next? Can the OpenAI nonprofit shell divest itself of the for-profit OpenAI and spend the remainder of its cash on "awareness" or other nonsense?
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didn't Firefox / Mozilla set that precedent already?
I can download the Firefox sources and everything else they produce. That they make money incidentally to that is really no problem and a positive because it provides reasonable funding. What if Firefox made a world beating browser by accident. Would they be justified in closing the source, restricting access and making people pay for it? That's what OpenAI did.
If OpenAI Co. is gatekeeping access to the fruits of OpenAI's labors, what good is OpenAI providing?
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A non-profit took his money and decided to be for profit and compete with the AI efforts of his own companies?
Yeah, OpenAI basically grafted a for-profit entity onto the non-profit to bypass their entire mission. They’re now extremely closed AI, and are valued at $80+ billion. If I donated millions to them, I’d be furious.
I'm not a lawyer, is it novel that someone's suing a corporate officer for breach of fiduciary duty as a result of trying to make the most money possible for shareholders? Obviously that's strange for a non-profit, but when you hear of a breach of fiduciary duty suit it's usually because someone didn't do something to make more money, not less. It almost feels more like an accusation of fraud than breach of duty.
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The replies that say "well the profits go to the non-profit, all's good" miss the reality of these high profit nonprofits: the profits invariably end up in the pockets of management. Most of those are essentially scams, but it doesn't mean that OpenAI isn't just a more subtle scam. The hype and the credulity of the general public play right into this scam. People will more or less believe anything Sam the Money Gushi…
If your beef with this structure is that executives get paid handsomely I have bad news about the entire category of nonprofits, regardless of whether they have for-profit arms or not.
They could release the source with a licence that restricted commercial use, anything they wanted, that still allowed them to profit.
Instead we get "AI is too dangerous for anyone else to have." The whole thing doesn't inspire confidence.